Saturday, May 19, 2012 at 7:01 AM
Facebook IPO just floating another tech bubble…
And it’s bound to go bust a lot sooner than others.
But let’s face it, haven’t you had enough of the mundane and often-recycled crap your “friends” share … every day, several times a day? Even worse are the hucksters who keep begging you to “Like” their page so that they can make money off your “friendship.” Then of course there are the myriad ways those little zuckerheads get you to betray your own privacy.
These are just some of the reasons why Facebook will soon go the way of My Space. Remember that bubble sensation…? In the meantime, though, Zuckerberg and his circle of real friends will be laughing all the way to the bank.
In any event, that the stock price flatlined on its first day of trading yesterday (opening at $38 and closing at $38.23 instead of at two or three times that amount as analysts predicted) should provide a rude awakening for all of the suckers who bought the hype.
I’m sure they won’t like that.
