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June 18, 2013
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Mark Zuckerberg Just Lost $2 BillionPosted on May 21, 2012
Mark Zuckerberg’s fortune dropped $2 billion Monday as shares of Facebook tumbled to $34.03, 11 percent below their initial public offering price of $38. The loss prompted analysts and buyers to wonder whether the company was overvalued at the $105 billion it gained on the day of its IPO. To put things in perspective, $2 billion was the amount numerous shareholders lost collectively in a bad bet recently made by JPMorgan. —ARK
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By Egomet Bonmot, May 22, 2012 at 7:48 pm Link to this comment
Good thing he married a doctor.
Report thisBy John Poole, May 22, 2012 at 2:11 pm Link to this comment
(Unregistered commenter)
A placard I have in my rear hatchback window of my Jetta wagon
Report thisREAL MEN AREN’T ON FACEBOOK
By bmeisen, May 22, 2012 at 2:02 pm Link to this comment
Anyone who bought should have just sent Zuckerman a twenty in an envelope. Wouldn’t surprise me if the thing disappears in a couple of years - it’ll take a while for the competition to get up and running. They were moving in the gray area between public and private goods. It was easy to think that FB was a public place, like a schoolyard or a park, as long as there was no intrusive advertising. This IPO makes it clear: FB is private and the owner is doing it for money, ultimately your money. Wikipedia and Amazon were the models and FB chose Amazon. Social media as a true public good could be an alternative if public broadcasters were authorized by their governments to make a platform available to citizens. Who can be trusted with your pictures? A private company or a public media source?
Report thisBy 1whoknows, May 21, 2012 at 9:58 pm Link to this comment
I’ve never understood the popularity of these social networks where the release of so much personal information greatly increases the chance of being victimized by identity theft.
There’s no doubt that people feel the need to connect with each other, but I don’t see how the long-term business model will hold up over time, especially when they start getting bombarded by even more ads in the near future.
Report thisBy Schlee, May 21, 2012 at 9:25 pm Link to this comment
*******
Facebook is the big thing before last, the AOL of this decade.
Poised to sink into the obscurity it so richly deserves.
FREE AMERICA
REVOLUTIONARY (DIRECT) DEMOCRACY
Report this*******