Who Is Truly Surprised By Facebook IPO?

It seems that the investment world is perplexed by the weakness of the Facebook IPO offering last Friday and now some of the blame is being put on the NASDAQ and also on the system not being able to handle the demand.

That may be all well and true but I think the real problem at the heart of Facebook is simple: It produces nothing. ZERO.

If you want to say it breaks up marriages, is used for bullying or any kind of errant behavior, one may have point, but in reality of economic terms, Facebook manufactures as much as a plain piece of paper.

Sure, a company can advertise on the site, or you can link a blog, twitter account, Linked IN maybe, I don’t know. All I know is I can’t go to the Facebook store and get any of their products. I can’t by fertilizer, or even farm equipment from Farmville, I can’t actually have the drink or beer someone sends me, and I can’t smell the flowers or whatever other virtual object that gets tossed my way.

This is because Facebook is a chat room for people who want to connect whatever that connection may be and it really is nothing else.

I personally call it Virtual High School because that is what I think it is. I think it is also to some extent Virtual College, but the majority of the interaction is from lifelong friends and family.

I am not saying it isn’t a great concept for people who like to snoop or stalk, or for the person who hasn’t gotten over their high school crush even though they may have kids, all I am really saying is that it doesn’t have any economic substance because it doesn’t offer a service or a good. It doesn’t make ice cream, or sell tires, or spray one’s yard for weeds.

It is a conference call with pictures that one can join in any day of the week and anytime of day.

Just don’t expect the Facebook magazine in the mail. (not yet at least)

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One thought on “Who Is Truly Surprised By Facebook IPO?

  1. I think it produces zombies. Also, it gives a good indicator of how bored someone is. I enjoy many aspects of facebook, however those who are unable to detach their tether long enough to have human interaction or perform basic functions without telling the entire world are zombies. You’ve seen them at the airport and restaurant or at the local store, staring into their iPhones waiting for the next “like” to their vainglorious posting or simply posting every 3 minutes that “The plane is delayed”….”my waiter forgot to bring me ketchup”….”I think I’ll buy soy milk today”…You get the picture. Not surprised by the stock performance at all.

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