I just can't understand that Facebook is valued at $100 billion. I was born in the late 80s and I'm not that old. But I have the old school mind that social media has no real value as a business. All these kids nowadays are trying to build their own social media websites and want to make big bucks out of them. IPO? do we want another bubble burst? All these so called internet companies that don't sell REAL stuff, this world is just full of crap.
Myspace just sold for a huge loss, it went for $35 million, it cost $580 million in 2005, speculators can fall over each other bidding for access to a new untapped frontier, it doesn't always work out.
Where do the former newspaper investors put their money these days.
Facebook is projected to do 2 Billion in advertising sales this year, that should cover their payroll.