Sorry, Facebook haters: It's not going anywhere

Discussion in 'other software & services' started by guest, May 20, 2012.

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  1. vasa1

    vasa1 Registered Member

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  2. acuariano

    acuariano Registered Member

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    things are geting worse for fb check cnn page
     
  3. dw426

    dw426 Registered Member

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    You can't judge anything less than a week into a stock. It could drop again by EOD trading, it could sit put at 32 bucks, it could rise...and tomorrow it could drop hard and fast. Of course that can happen to any of them on the market, but with the cloud around FB right now, if I'm an investor I'm drinking lots of coffee and twitching, and if I'm Mark, I'm popping aspirins like candy.

    The only ones who are care-free and doing just fine are the ones that made their millions when the IPO hit and ran for the hills.
     
  4. acuariano

    acuariano Registered Member

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    http://news.blogs.cnn.com/2012/05/2...umpy-start-just-got-a-little-worse/?hpt=hp_t1

     
    Last edited by a moderator: May 25, 2012
  5. dw426

    dw426 Registered Member

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    You may want to cut down a bit on the text, to avoid any "too much being copied" issues. But yeah, here come the lawsuits, which is completely understandable.
     
  6. Dermot7

    Dermot7 Registered Member

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  7. Hungry Man

    Hungry Man Registered Member

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    14 dollars holy crap lol so glad I didn't invest
     
  8. dw426

    dw426 Registered Member

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    You know, the best thing for Facebook may be to put someone else in place of Mark. It won't happen with the kind of power he holds over the company unless he either realizes he's now in over his head or something catastrophic happens, but it could keep what looks to be a very slow Titanic scenario from happening.
     
  9. Keyboard_Commando

    Keyboard_Commando Registered Member

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    I know someone in a band that uses Facebook to promote shows and stuff. Facebook & Twitter pretty much wiped out Myspace's popularity for online promotion. I guess it's not all bad.

    Not for me though. I think Facebook is an wide open door for all sorts of nasties. This insider trading stuff just proves it.
     
  10. dw426

    dw426 Registered Member

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    Insider trading happens all the time, and it isn't necessarily the doing of Facebook itself in this case. We won't know for a while what, if anything shady happened.
     
  11. Keyboard_Commando

    Keyboard_Commando Registered Member

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    That's true.

    But there is a Schadenfreude feel about this. A lot of people would be glad to see Facebook getting its possible comeuppance, I am one of those, btw. I follow what technological features they add. I follow what they're doing with the user privacy policy. It's all getting creepy - almost everyone can agree on that - Facebook is just another enabler for the various Government's surveillance systems that are encroaching into our lives - that's what I think, for what it's worth.

    If the bigwigs become convicted of insider trading, Facebook sinks? I would love it! can't lie. I would LMAO. And I am an LOL type of guy.

    People at the top and inside Facebook understand the privacy/liberty issues with data mining. People that sell mined info to whomever wouldn't think twice about making a few billion/million for themselves off their user's back? Nein mein cupcake/fuhrer. Surely not ...

    So I really hope Mark Zuckerberg, the figurehead, is guilty, becomes a massive rat. I hope he knew all the juicy details and made a financial killing. I hope he ends up in jail and Facebook sinks. This would be another slap in the face to tyranny, to rotten elites illegally using inside knowledge to screw over the man in the street. Too much of both going on lately. Might even scare off future rats.

    /mad hypotheticals off
     
  12. dw426

    dw426 Registered Member

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    Harsh :D Let me counter-argue your point about Facebook data selling and privacy..and you can in fact use this on Google as well. Yes, it's bad what they do, in fact, I'd argue Facebook is worse with privacy violations than Google is. However, we're always ready willing and able to growl at the companies when we should be barking at users too. There's no way around the fact that Facebook, Google and others keep doing what they do and stay in business because users let them. It's a two way street, Facebook can't do anything with data it doesn't have.

    There needs to be responsibility for both parties, being too damned lazy to tighten privacy settings and not read an EULA and privacy policy because you're in too big of a hurry to start yapping on your "Walls" is not an excuse.

    Now, back to the wild world of quick wins and much quicker losses, and shadiness that is Wall Street. Facebook won't sink because JP Morgan and a few investors didn't play nice, otherwise quite a few huge companies and tons of smaller companies would have went to the bottom as well. Facebook success or failure on the market and in the real business world depends on Mark. Patience is not a virtue of Wall Street, especially not in this economy. Big time shareholders don't like to wait long for results either.

    In that world, a drop in a few points will have people on the trading floor twitching. I'm sure Mark is no innocent angel, but I doubt he's too involved in whatever went down prior to Facebook going public. If he was, and he did start singing like a canary you wouldn't know the world of Wall Street and investing very well if you thought it would scare off any future instances of insider trading :p
     
  13. emmjay

    emmjay Registered Member

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    Choosing a social networking offering like Facebook, Twitter or any other equivalent is just a matter of personal choice. To mock those who use any of these services is banal. Who cares what other people like ... you choose what you like and let others do the same.

    As for investing in Facebook. Well I guess you can call this a Faceplant. I read that a guy invested all of the money he saved for his kids tertiary education ($25,000 a piece) in this IPO. If FB continues to evolve and it gets all kinds of new sources of revenue, then it will survive as a public company. If not, it will die as MySpace did. In this volatile space it is all about creativity and appeal. As a public company Mark will have to consider what the board advises ...
     
  14. dw426

    dw426 Registered Member

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    I personally am not mocking its users, I'm calling for responsibility of both users and Facebook. You go into these services (hopefully) knowing the risk involved. Relying on the service itself to do the right thing is not going to get you far. As to people who invest stupidly, like said man, they get what they deserve honestly. Idiocy by choice receives no sympathy.
     
  15. vasa1

    vasa1 Registered Member

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    This may not be entirely correct. From what I understand, MZ will still have the power to take unilateral decisions. Most of the shares held by others will have differential (and diminished) rights.
     
  16. vasa1

    vasa1 Registered Member

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  17. dw426

    dw426 Registered Member

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    Funny that TechCrunch was jumping on the same "Facebook is doomed" bandwagon when this all went down. Look, Facebook stock is hovering around 27-28 which is bad, but it seems to be stabilizing a bit. But, again, success or failure is going to come down to Mark. Can he hack it as a real leader, or will he fall short of expectations? We won't find out next week or next month, but we will find out.

    As far as power goes, Mark retains 56-57% of voting power. Make no mistake, he set himself up nicely. He holds more power than is usual for a major company, but he won't be able to simply run his shareholders over either. He still answers to people, the business wouldn't survive if he didn't.
     
  18. vasa1

    vasa1 Registered Member

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    It's becoming a trend to issue stock and yet not cede power. I understand that the Google founders were among the early ones who started the trend.
    As for his "answerability", you're proving that by an assumption?
     
  19. vasa1

    vasa1 Registered Member

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  20. dw426

    dw426 Registered Member

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    No, I'm not trying to run off at the mouth and make assumptions. Even if he doesn't answer to his shareholders (I doubt this is the case), he still answers to Federal authorities and he'll have to work with governments in every country that uses his company. There's simply no way around that one. Regarding the link on Google, that doesn't surprise me a bit with them. When stuff like this is allowed to happen, you get Yahoo.
     
  21. vasa1

    vasa1 Registered Member

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    We're moving the goalposts now. That any company is unanswerable to the law of the land was not the point. The impression that MZ has lost some of his ability to fly solo post-IPO was what I was going on about.
     
  22. tgell

    tgell Registered Member

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    I was kind of surprised that the SEC was pressuring FB to go public. I know MZ did not want to go public at all.

    http://www.observationsblog.com/1/post/2012/05/facebook-and-flames.html
     
  23. vasa1

    vasa1 Registered Member

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    Not much in that blog :(

    And if it's an existing regulatory requirement, then one couldn't fault the SEC. My feeling is the pressure to strike while the iron is hot came from the venture capitalists who wanted to cash in and move on
     
  24. dw426

    dw426 Registered Member

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    Via voting power, yes, he can fly solo pretty much if the shareholders have been given "crippled" shares. *puts the goal posts back where he found them* :D I'm not a shareholder in Facebook, so I'll just go on what I read like the rest of us.
     
  25. dw426

    dw426 Registered Member

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    A little of both, probably.
     
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