Facebook IPO - the biggest theft in history?

[Prometheus]

kinda sounds like Fransisco D'Anconia and the San Sebastian mines...

Doesn't it, lol.

In any case, the markets and the FED will destroy the country.

Congress is already trying to pass new laws preventing the slaves, errr citizens from leaving the US with any wealth. The ex-patriot act.

Evil. That is the kindest word I can use to describe the US government.

 

[Al B]

Are you talking about one of the co-founder's of FB who gave up his US citizenship?

Yea.
I'm sure there were other reasons, too......but.... it makes one wonder.

 

[John Galt]

"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed." - Francisco d'Anconia Money speech

 

[KLB]

Yea.
I'm sure there were other reasons, too......but.... it makes one wonder.

Like not being native born and living in Singapore for the last three years?

Who wouldn't do that in his shoes?

 

[Al B]

Like not being native born and living in Singapore for the last three years?

Who wouldn't do that in his shoes?

OK
I have a habit of not paying much attention to TV news. Must not have caught those details. It just seemed the timing of it was interesting.
Oh, well, I was not fully informed......that excuse still good, or only for some people?

 

[handgun]

I will offer some sharp criticism freely to those who have bought Facebook stock.
1. Why would you ever invest in a company that doesn't make a tangible product.
2. Facebook is a fad. Xyanga, Yahoo Messenger, AIM, and MySpace are all proof of such.
3. Does ENRON ring any bells? What did they make.. Absolutely Jack Poop. Did people use ENRON's Services (well Kinda)
4. Did people invest in ENRON.. You betcha. Did they loose their arse. You betcha. What do you think Will happen to facebook when i make the next allaboutme.com - all about me social networking site?

Lets look at the hard facts of how Facebook makes its money. Advertisements and selling of your personal information. (even though they swear they don't) But they do to the advertisers. You can advertise to a select group of people with in a certain age range, and certain social status Single Married, Engaged, divorced.. etc.. No one really pays attention to those ads. I sure don't! I have yet to buy something or use a service i have seen advertised on Facebook.. And i probably never will. Sure, I use facebook to spy on my friends, rather than call them..

 

[level.eleven]

Not even close. Heck, this is a larger theft.

California's Facebook Windfall : Planet Money : NPR

Government is the big winner. $200 Million for producing nothing. Point gun, demand money. This is where the rubber meets the road. If you are a law enforcer, would you point your gun at Zuck and demand $200 Million dollars that would in turn fund your salary?

 

[Indy317]

Banker friend of mine, who knows his stuff, can't stop laughing at the fubar Facebook IPO.

He thinks criminal charges will flow from the screw up with the IPO. All the data shows the stock was driven up by at least 25% by some improper reporting of earnings and forcasts.

He says the stock is really worth $14 or so.

Just what we need...more government involvement. Who was forced, at gun point, to buy or sell at the IPO price? The NASDAQ trading issues are a civil matter, and I don't think it is all that big of deal....what do folks expect given the hype of the event.

I think there is some value in Facebook, how much I don't know. Don't be surprised if they initiate some "Pay $5/month for ad free Facebook." Most folks, like me, are dumping $100/month on hundreds of channels when I really only watch about ten cable channels. What is $5/month to grandparents who live across the country and want to see mobile upload photos of the grand kids? So you will either view adds, be forced to do surveys, have your info sold, etc., or you can pay a small monthly fee and likely get passes on that stuff.

The problem with Facebook and their ad revenue though is the proliferation of mobile phone computers. The screens severely limit the amount of space for readable ads. This was pointed out on Options Actions and those guys are correct. Most of my co-workers are doing a lot of Facebook via their phone. That will end up hurting them if that trend grows.

 

[88GT]

I will offer some sharp criticism freely to those who have bought Facebook stock.
1. Why would you ever invest in a company that doesn't make a tangible product.
2. Facebook is a fad. Xyanga, Yahoo Messenger, AIM, and MySpace are all proof of such.
3. Does ENRON ring any bells? What did they make.. Absolutely Jack Poop. Did people use ENRON's Services (well Kinda)
4. Did people invest in ENRON.. You betcha. Did they loose their arse. You betcha. What do you think Will happen to facebook when i make the next allaboutme.com - all about me social networking site?

Lets look at the hard facts of how Facebook makes its money. Advertisements and selling of your personal information. (even though they swear they don't) But they do to the advertisers. You can advertise to a select group of people with in a certain age range, and certain social status Single Married, Engaged, divorced.. etc.. No one really pays attention to those ads. I sure don't! I have yet to buy something or use a service i have seen advertised on Facebook.. And i probably never will. Sure, I use facebook to spy on my friends, rather than call them..

Hmmmm. I swear I posted a response to this last night. Oh,well. I'll try again, but abbreviated since I'm in no mood this morning to put forth the same effort.

Simple question: are companies that provide only services not worth investing in?

 

[Bunnykid68]

Hmmmm. I swear I posted a response to this last night. Oh,well. I'll try again, but abbreviated since I'm in no mood this morning to put forth the same effort.

Simple question: are companies that provide only services not worth investing in?

Yes they are, all of the work I have done for the last 20 years has been solely service related. You nailed it. Most people fail to realize our country produces less and less products every day and have become more service providers than product providers.

 

[Designer99]

The next change you'll see in Facebook is related ads integrated into your timeline. For example, if you write a post about running, you'll have an attached ad for Nike running shoes.

Why would someone invest in a company that makes no tangible goods you ask? Advertising. Facebook draws more eyeballs than anyone. That's where everyone will want to advertise to reach the most people, and highly targeted at that.

Facebook makes it's money in two ways: ads, and selling user profile / behavior data. It's very possible that they'll shoot themselves in the foot with more ads and cause people to leave in droves. But, I think they have quite a few tricks up their sleeve for revenue. They want to be the one stop shop for everything: video rentals, music, merchandise (think social Amazon), apps, etc. etc. You'll be able to buy anything via Facebook and they'll take their cut, just like iTunes get's their 30%.

Welcome to the future.

 

[hornadylnl]

If you buy a restaurant franchise, are you paying for only tangible items?

 

[hoosierdoc]

the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling!

Well... I'm guessing there were billions of retirement funds put into that IPO owned by lots of ordinary citizens

 

[teddy12b]

Well... I'm guessing there were billions of retirement funds put into that IPO owned by lots of ordinary citizens

Sad to say it, but that's the only place left where there could be some money in this country. Big brother isn't going to be made financially healthy by taxes the under 40 crowd. It's going to have to go after people who have a real and substantial nest egg. I'm lucky that my generation never gets to retire. By the time I get to that retirement age this country will have new name and a completely different form of government and I'll still have to work to support myself.

 

[88GT]

Yes they are, all of the work I have done for the last 20 years has been solely service related. You nailed it. Most people fail to realize our country produces less and less products every day and have become more service providers than product providers.

Whew! I was afraid all those insurance companies, real estate brokerages, retailers, et al. were going to turn out to be total frauds.

Sad to say it, but that's the only place left where there could be some money in this country. Big brother isn't going to be made financially healthy by taxes the under 40 crowd. It's going to have to go after people who have a real and substantial nest egg. I'm lucky that my generation never gets to retire. By the time I get to that retirement age this country will have new name and a completely different form of government and I'll still have to work to support myself.

Not the only. Income earning real estate.

 

[ArmedProgrammer]

Not the only. Income earning real estate.

Spot on 88GT! But you already knew that.

 

[John Galt]

Well... I'm guessing there were billions of retirement funds put into that IPO owned by lots of ordinary citizens

I don't disagree. It's just that our federal government IS. SO. CORRUPT. that until these "ordinary citizens" stands up to the fraud/deceit/lies/corruption, they will continue to reap what they tolerate.
Washington is a greater threat to our sovereignty/survivability than any Middle East country and it is the corruption emanating from there that will be the undoing of this once great nation.
God Help America!

 

[longbow]

Banker friend of mine, who knows his stuff, can't stop laughing at the fubar Facebook IPO.

He thinks criminal charges will flow from the screw up with the IPO. All the data shows the stock was driven up by at least 25% by some improper reporting of earnings and forcasts.

He says the stock is really worth $14 or so.

update:

It is getting close!

News from The Associated Press

 

[Hohn]

Theft! What theft?! The stock market is ONE BIG RIGGED CASINO and anyone that believes the trash coming out of Wall Street deserves what they get. We are living in such a surreal, openly corrupt period of history that it's mind-boggling! The plundering of the middle class and their children via bailouts/printing/inflation is the greatest theft in history!
Pray for Karma. Hard Karma!

This is pretty absurd^^.

Your remarks show ignorance, not evidence.

Show me how the market is rigged.

I'll show you how a no-name investor with no connections at all bought some Apple at ~$80/share back in the day.

 

[Hohn]

Anyone who invested in the facebook IPO deserves to lose what they put in. It was foolishness from the get go.

Wall St is no more rigged against the middle class than life is rigged against the stupid or lazy.

I said as much before the IPO, but my FB advice as proof is no longer available.