Can't wait to short this sucker. Only have one account and barely use it at all. Do you even see a lot of posts in Facebook? They're something like this crap "Today sucks" "OMG this music video is so cool" "She's now my new BFF" "x and y is now friends"
Just a place used for ranting and post useless comments. It's useful to keep in touch with friends but sharing personal data like phone # and home address carry a big risk. It's also a playground for hackers as many hackers can hack into anyone's Facebook account for breakfast. Not to mention what you post on Facebook can have consequences as employers may find that your comments/personality are a big turn off especially when you're ranting about your current employment. In the future, beside a background check, employers might even do a "Facebook check" as well just to know about their chances of being bad mouthed by you.
Yes, they are selling your data to third parties and I believe this has always been their intention from the beginning: to create something so popular that money can be made by data mining and eventually ripping off people via the IPO.
Demographic wise, a good chunk of the users are kids or teenagers. Sure they will be consumers at some point but not in another few years or decade. By then, they might have decided to move on to another future social media phenomenon or two.
It takes them almost two years to hype up this POS. I wonder if it's already peaked during that period and now Suckerberg and Co. are just here to collect their dues for all the cheer leading efforts. This is their golden chance to cash out like so many dotcoms before. History is full of it. Why would it be different this time? Groupon is a good example of what coming down the pipeline for Facebook though Facebook could weather the storm a bit longer due to its positive earning.
It seems to me that "Goldman Sachs the Pillage People" has found their next scam involving this deal with Facebook.
First, I have no idea why these people has placed such a high valuation on Facebook stock making it worth US$ 50 billion dollars?
"Goldman Sachs the Pillage People" probably is just setting things up to take their foolish clients for a ride.
You have to be a fool to trust that company - if they don't take you for a ride today, as you continue doing business with these scam artists eventually your turn will come - you can bet on that.
January 6, 2010
SouthAmerica: Reply to itsame
...First, it's insane to give a market capitalization of US$ 50 billion dollars to a company that could be just a temporary fad - and as soon as someone comes up with a new idea, this company could implode in no time.
How are this people going to make money to justify a US$ 50 billion market cap?
"Goldman Sachs the Pillage People" might be just taking advantage to the fact that this is not a public traded company - and they are trying to sell some inflated shares to take advantage of the publicity that this company is getting right now.
I am sure some people are going to make a ton of money, but at the end of the day we probably going to end up with a bunch of fools holding the bag for these scam artists.
SouthAmerica: If you want to get screwed just do business with "Goldman Sachs the Pillage People".
By the way, since December 19, 2011 the "Goldman Sachs the Pillage People" stock went up from $ 87 per share to $ 117 per share on very suspicious demand for that stock - many days they can't reach even the daily average trading volume for that stock and the stock keeps going up day after day.
It can't be because of the inflated price of the coming Facebook IPO....anyway it looks like to me that we have some kind of stock manipulation going on here.
SouthAmerica: The Dow Jones Industrial Average has been going up since March 2009, based only on Ben Bernanke QE1, QE2, QE3,...QE?, and all kinds of other US government intervention.
The secret of inflating your equity markets based on nothing, is having a Federal Reserve manipulating the markets in every way they can - and creating liquidity from thin air - based on an imploding economy.
Everybody is aware that the US empire is crumbling, and spinning completely out of control; the US economy is imploding, and it's kept alive by massive US government intervention, and a central bank that is trying to inflate the house of cards as fast as they can to be able to keep the game going for another day, before the entire old and obsolete structure comes crashing like never before.
In 2012 the US economy is being transformed based in a new economy that the best they can create today are companies such as LinkedIn (an internet rolodex), Groupon (a company specialized in coupons for shopping), Zynga (is the world's leading provider of social game services), Pandora (Pandora is the personalized internet radio service that helps you find new music based on your old and current favorites), Yelp (reviews site, you can review your favorite restaurant and so on...), and don't forget the coming Facebook IPO (Facebook is a social utility that connects people with friends and others who work, study and live around them).
This is the best that the US economic system can muster these days – a nothing economy, an empty shell with nothing of substance, a make believe economic system based on nothing with a banking system creating massive amount of liquidity also based on thin air.
SouthAmerica: Mokwit, before you know "Embraer" will take over Boeing Corp. - the new company BoEmbraer...
What is left of useful US companies are for sale anyway - Budweiser, Burger King, very soon Boeing, and so on....
The new US economy will be based on Zynga - Americans will be able to buy a farm, in Farmville, and they also be able to buy real estate, in Cityville. Americans finally will live in a complete world of illusion. And they finally Americans will be able to conquer the world in this make believe world.
Americans will be able to connect to LinkedIn (the rolodex) and get any job they want since in that world of illusion you will be able to get a job as a rocket scientist, an astronaut, be any type of doctor, or even a policeman on Cityville and Farmville.
You will be able to use your Groupon coupons to buy anything you want in the Zynga world.
You also will be able to rate the restaurants, and everything else you want to rate using the Yelp service.
And this American make believe world of the future is what gives the value of Facebook of a possible 100 billion monopoly make believe dollars.
Yes, you will be able to use monopoly make believe dollars (the new US currency) to buy railroads, houses, apartment buildings, and so on in Atlantic City or in any of the Zynga Cityvilles.
Ben Bernanke probably still be Fed Chairman and he will be trying to blow bubbles as fast as he can with his new monopoly money; to inflate the prices of everything on this new American make believe world.
The Republicans are going to be happy with this new American make believe system since when senior citizens get sick they will be sent to a Zynga Hospital, and would be taken care by the Zynga doctors and Zynga make believe drugs and the system would use Groupon coupons and monopoly make believe money.
Zynga world is the future of the United States social-economic system - the world of illusion.
April 5, 2012
SouthAmerica: Here is my reply to the above posting to a regular member of the Charlie Rose Show forum at:
But I am sure that the people on Wall Street have gone mad.
Zynga is a game company on the internet where you can buy a farm, or start your own city.
The company's top three games – FarmVille, FrontierVille and CityVille – accounted for 57 percent of online game revenue. Total revenue was $311.2 million for the quarter ending December 31, 2011.
Players can accept credit card offers, take surveys or buy services from Zynga's partners in order to obtain game credits, which would allow them to replenish their character's energy or receive premium currency that could be exchanged for other various virtual goods.
Players may also purchase game credits directly from Zynga via credit cards or PayPal. From within the game, players can purchase the points for a fee: US$5.00 for 21 game credits, for example.
In March 2010 Zynga started selling prepaid cards for virtual currency at more than 12,800 stores across the US.
This company started in July 2007 and went public in December 2011 and it has a market cap of around $ 10 billion dollars.
People are spending a lot of real money (if you still can call the US dollar real money these days) to buy virtual goods.
If Zynga represents the future of US job creation, then the United States job market is out of luck, since Zynga has only 3,000 employees, and 2/3 of them are located outside of the United States.
LinkedIn is an internet rolodex that also has a US$ 10 billion market Cap.
Groupon is a company specialized in coupons and that company has a US$ 10 billion market cap.
But this latest internet bubble will reach its blow up point when Facebook goes public in May or June 2012 – they are estimating that Facebook will reach a US$ 75 billion to US$ 100 billion market cap right from its IPO.
That will be an extreme example of Wall Street gone mad, but the good news is that there are plenty of suckers out there who are willing to be taken for a ride.
“Goldman Sachs the Pillage People” stock is trading at $ 120 per share and P/E 27 – when that stock should be trading at most for P/E 14 that translates to US$ 63 per share – that stock should be trading at half its current market price.
SouthAmerica: They mentioned on this video that 70 percent of the people who are members of Facebook are upset that Facebook changed their wall into “Timeline”.
I joined Facebook on November 21, 2007 per invitation of the editor-in-chief of Brazzil magazine, and since then I got connected to 234 people the number of my current friends on Facebook.
From the 234 people about 130 are family and friends, another 80 people are famous authors, economists, Brazilian and American politicians, and Wall Street television commentators. And another 25 people contacted me over time because they wanted to connect to me on Facebook.
I also turned down a large number of people over the years who wanted to be my friend on Facebook.
If you added all the people who became my friends on Facebook then my total number of friends were about 260. Over the years about 25 people disconnected from my Facebook account for one reason or another – usually it was because they did not like or agree with something that I posted on my Facebook wall. Also some very young family members disconnected from my account because they could not speak English and they could not understand most of my postings.
Among the people who disconnected from my Facebook account there were about 6 Hollywood movie stars such as Roberto De Niro and others.
George Soros disconnected from my account after only 3 days – when I sent him a private message referring him to my articles, and I pointed out what I had written about keeping the “Hot Money” out of Brazil. I also mentioned his investment on Petrobras, and what I had written about that subject. And finally, I also mentioned what I wrote about the Brazilian government putting in place a very high exit tax to keep the “Hot Money” out of Brazil.
Ivanka Trump also disconnected from my account after I posted some similar information about keeping the “Hot Money” out of Brazil – it seems to me that her father Donald Trump was investing in Brazil at that time.
Here are 2 more influential people in the Arab world who unfriended me at Facebook in the last few months:
2) Sheikh Mohammed bin Rashid Al Maktoum – the Prime Minister of United Arab Emirate - unfriended me at Facebook in the last few months after being connected to my account for at least 1 and half years.
I remember the day when he disconnected his Facebook account from my account, and what I had posted on that day on my FB wall. My posting had something to do with what was happening in Greece. I suggested that the Greek people should start a revolution in Greece similar to the French Revolution, and they should bring back the “guillotine” to take care of the politicians and the bankers who were destroying their country.
I don't have anything against a monarchy form of government, and I understand that Sheikh Mohammed bin Rashid Al Maktoum is supposed to be a very good ruler of Dubai. My posting was about what has been happening in Greece, and Europe in general, and not about what is going on in the Middle East.
I have a very small and select group of people (234) that I am connected at Facebook, and I only add to my group of friends a few very special people.
Anyway, the new “Timeline” system is not working well on my account and it must have some bugs that were not fixed before they used this new system – When I was checking my postings on this new "Timeline" system, it seems to me that Facebook lost many of my postings when they converted my FB wall into this “Timeline” crap.
Regarding this CrossTalk discussion: Since I spend a lot of time in the web doing research about all kinds of subjects for my articles, it would be very hard for Facebook or Google for that matter to compile any type of relevant information about myself that means anything.
Since I spend so much time doing research on the web, friends and relatives very often ask me to find some kind of information on the web for them, about some disease, medications, or medication side effects, about dog disease, or get information about something that they want to buy, or any other type of information that they need.
CrossTalk: Facebook Timeline Tyranny – April 16, 2012
If you haven't been timelined yet, you eventually will be! Why can't Facebook let its users choose their page layout? Why is Timeline enforced on hundreds of millions of users?
What is Timeline -- a perfect way to present one's biography or a way to get to know the dirty laundry of someone who hasn't cleaned his/her page yet? Does Facebook violate people's privacy, and should anyone who chooses to register on the website put up with any Facebook's initiative?
CrossTalking with Roman Karachinsky, Anita Ramasastry and Terry Carney.