approximately 5% of the population hate Facebook and other related social interaction tools available online. coincidently, 5% pf the population suffer from social behavior disorders too. draw your own conclusions.
angelo had to pay for his grand kids college so he sold his share seemed totally logical my thoughts on facebook - it is the new personal pages which will be around for a looong time with almost 1 billion users, but will be profitable like exxon or gs or apple? not really, they do not really have a product/service that will create fortune 500 earnings
Banking a cool Billion is a smart move. Having a networth in shares means nothing. Cash is always king.
Socialists are not going to understand you. An IPO is when the creators get paid for their hard work. Socialists have envy. They want people to work and distribute their wealth to those who day dream equality in everything. This is a very dangerous attitude. What is funny is that at the other extreme, some bought the stock and they wanted to become rich in one day and are now suing the company. The bast*rds wanted to become rich in one day but they hate the guy who worked on this for 8 years to become rich. This attitude is scary for free economy and the future. According to this guy, facebook created a lot of wealth by salvaging the PC industry: http://t.co/0wdGnj8r These people are myopic if they think the CEO of a company does not deserve to cash in a little. They are also dangerous because they cultivate an attitude towards future IPOs and discourage innovation.
coincidentally I just started a thread on this subject. the # of IPOs has been in a downward trend for years. http://www.elitetrader.com/vb/showthread.php?s=&postid=3534921#post3534921
There's a thing called social media on the internet. Other players, including Google, offer alternatives. You should become a billionaire if you think there is a constricted supply of social media websites.
Even worse, this asshole is a bigger loon than Krugman when it comes to quantitative easing. It's beyond laughable that this guy even talks about "capitalism".
I never said there weren't any other social media web sites. I was responding to your notion that soccer mom's are going to abandon facebook b/c its owner cashed out some money in the company he created. These "soccer moms who spend 40 minutes a day" on FB might have some moral higher standards that they live by, but i bet those moral standards won't be stronger than their need to utilize FB for gossip and playing king maker with their friends towards celebrities who they think use inappropriate language. How come they don't have a problem with FB selling their personal information for profits, but hate Zuck for profiting from his own company?