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May 19, 2012

The truth is that Facebook is a toy,

a dreamworld, a figment of the imagination. Zuckerberg wanted to make the world
a more connected place (and build a huge database of personal preferences), and he succeeded thanks to a huge slathering of venture capital. That’s an accomplishment, but it’s not a business. While the angel investors and college-dorm engineers will feel gratified at paper gains, it is becoming hard to ignore that there is no great profit engine under the venture. -- ZeroHedge

Posted by gerardvanderleun at May 19, 2012 12:20 PM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Methinks Zuckerberg simply won the lottery. There are a jillion post-adolescents out there slapping together this kind of application, putting it on a server, and thinking theirs is the next Compuserve, deja news, AOL, Google, Myspace or whatever. Mercifully, most are stillborn. Zuckerberg stumbled on the combination of "features" the current crop of teeny-boppers goes for.

Posted by: BillH at May 19, 2012 2:17 PM

Jones, you're a communist. Mr. Hedge, you're close to the truth, but... who knows. Now those communist pig-fuckers over at Google, they have a camera in every toilet stall in America, so smile when you grunt.

Posted by: Casca at May 19, 2012 2:26 PM

The best story coming from this is of an unemployed graffiti 'artist' whom Zukerberg asked to paint the Facebook building. Instead of taking the $60,000 payment he asked for the equivalent in stock... which as of yesterday is worth several hundred million dollars.

The commentator (a venture capitalist, who does the Coffee and Markets podcast) noted that that makes this painting the most expensive work of art of all time.

Posted by: Brett_McS at May 19, 2012 3:45 PM

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