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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."
9 Comments
7/16/2012 10:35:19 pm
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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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