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Holman W. Jenkins, Jr of the Wall Street Journal wrote a spot-on analysis of Facebook. Check out Guess What? Facebook Is Speculative.
My two favorite quotes: "Facebook went public at $105 billion and Friday was selling at $87 billion. At either figure, Facebook's valuation is a projection of a revenue model that doesn't yet exist and hasn't even been articulated by the company. Buying shares at these prices is a bet on capitalist incentive eventually to find a way to turn Facebook into gold. But it's no sure thing. An investor who didn't understand this can find the man who cheated him in the mirror." "[Zuckerberg's] next trick will be to build a bridge between this data and the existing world of ad-supported media that all of us are immersed in every day....It requires of Mr. Zuckerberg a second act of entrepreneurial creation on the order of his first. But a place to start might be finding out who advised Steve Jobs on how to sell the record companies on iTunes. That person probably belongs on the Facebook payroll pronto."
10 Comments
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 JONATHAN STEIMAN
I'm the Founder and CEO of Peak Support. This blog is my take on early-stage companies and innovation. Every so often, there may be a post about culture, networking, family -- you name it. After all, what is a blog if it isn't a tad bit unstructured.
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