Wednesday, January 05, 2011

WOW Facebook is worth $50 billion!!

The digital press is a blze with the latest valuation of Facebook - $500m investment values the balance at $50 billion - not bad for a "revenue free" business model.

I remember reading about Microsoft buying a tiny piece that valued the rest at $4 billion[??] and everyone said that was stupid. But are we experiencing a Tech bubble again like 2001 where everything headed for the stars only to come crashing down??

Do you remember when the NASDAQ hit 5,000 points?? I do because for a brief moment I was a multi millionaire [on paper as they say] as our business, with out revenue was valued by the stock market spruikers at $100million. That lasted a week or two and reality came back to refresh my mind with a dose of reality.

After watching the movie The Social Network I am reminded that with the "spamming" of the Harvard University student list, or the hacking of the university's computer system we would have a Facebook - welcome to the new Robber Barons... how do get rich VERY RICH and VERY QUICK in the 21st Century.

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