Tuesday, July 5, 2011
Facebook's Overhyped Bubble is the New AOL
I'm not buying the hype that is being fed to us by parties, Facebook itself and investors like Goldman Sachs, that have an interest in perpetuating the myth that Facebook will change the world forever and it's worth north of $50 billion. It will wear off and fade just as AOL did in the 90's. Also, those inflated numbers are as phony as phony can get. I myself would account for 7-10 users and I just signed up to see what the buzz was about—it wasn't much! Wall Street can't get away with pumping up every business with a flaky business plan like it did 10-12 years ago, but I guess they're thinking they can get a away with pumping up a few here and there like Facebook, Linkedin and Groupon before everyone catches on, but by that time they'll be long gone having cashed out leaving an empty bag for their usual victims.