Facebook is going to need all the friends it can get
Posted in: Internet Use/New Technologies at 21/05/2012 03:27
The interesting thing about the Facebook IPO (initial public offering) is that there was no first-day "pop". In other words, the shares ended the day trading at just about the price at which they had started.
Given the advance hype, this surprised many observers and led some to speculate that the underwriters (the banks that handled the flotation) were discreetly buying shares to prop the market up. So could it be that the world is finally wising up to the truth about Facebook?
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Social networking is really just a means to an advertising end. It is achieved by providing an addictive service for millions of people who spend unconscionable amounts of time freely giving away the thing that advertisers really crave, namely detailed information about their lives and interests.
http://www.guardian.co.uk/commentisfree/2012/may/20/john-naughton-facebook-hype-falls-flat
