Love him or want to smack him upside his head, Mark Zuckerberg creator, or co-creator, or thief of Facebook (not sure on your position) is a Rich S.O.B today, and probably doesn’t give a crap on exactly what your view of him is anyway, frankly because he has the view of the rest of us from on top of his giant stacks of cash.
After making us all hold our breath for what seemed like forever, Facebook finally began selling for what looked like $42.05 or $43.00 a share after initial public offerings. The price was beginning to go back down towards the $38 of its initial offering price. Analyst say that this was a well priced stock, but worried that like Yahoo, Google, and other big deal tech companies that Facebook will underwhelm and under-perform. Terms, like fizzle, and breaking even are being noticed as a cause for alarm, professional analyst say that there is no evidence that the stock will hit negative levels but stands to stay stable at the break-even point.
Within the first 30 seconds of trading Facebook sold 83.7 million dollars in shares, that’s pretty freakin amazing. They say if your going to invest, make sure you invest in companies you know, and who doesn’t know Facebook? No, really I mean who doesn’t know Facebook? If it’s not for having your own account or personally knowing someone with one, you would have had to been living under a rock for the past 8 years to not have either seen what to me was a pretty bad movie depicting the epic rise to fame and monumental scrutiny seen in the movie The Social Network,
or you should have at least heard about it in some way, because people will not and have not stop talking about.
Let’s face it people, like it or not the new wave is here and it’s not going anywhere. I even put some skin in the game, all be it of a poultry amount, there was still a small investment on my part. This is simply because unlike, Goggle, and Yahoo, Facebook has close to 45% of tech users with active Facebook accounts. There are approximately 900 million, did you get that…900 MILLION PEOPLE who use Facebook, that’s epic. It’s always funny to see how “slacker” has become the new engine for productivity and now has everyone scratching their asses trying to figure out the best way to generate ingenuity in this country. I actually heard one of the financial analyst from Squawk on the Street say today, “Well how long can Facebook sustain its growth before the next 13-year-old comes along with the next social media platform”? Funny, now we don’t just want 13 year old’s to sit on their computers all day but we are praying for them to be the “chosen one’s” of the information age.
- Crunch Base NOW HIRING– for those who are inspired to join the movement
I guess the larger truth that I hope to shed light on, is that yes what Mark Zuckerberg and his crew achieved today was no small feat by any means. It was epic, it was monumental and still climbing. Who knows where it will end up? But I guess my next question is, are we really fine with only generating potential every once in a blue moon, only from Harvard, or Dartmouth, Yale, or Princeton? In the housing market everybody bet on red, and loss big then had nowhere else to turn. There were no other cash cow’s. Then people started to wake up again and realized that “hey, tech has always been here, and right now the U.S. kinda has a leg up”, but that leg is fat and weary and ready to fall, because like the housing market our hope only stems from a few very big, very well endowed giants, as opposed to many small but proportionality successful ones. We need to fully invest in technology and science. We need to invest in many of our kids being able to take advantage of the math and science programs, camps, scholarships etc… and make sure that all of our children across the U.S. and abroad have the opportunity to become the next Zuckerberg. Really who knows how many more days we could see like this on the trading floor? “I mean because padded pockets is all it’s really about anyway right?”
Not sure if you wanted to keep or lose your lunch but I thought this was worth taking a look at:
- Poll: What Do You Think About the Facebook IPO? (pbs.org)
- Facebook’s Zuckerberg: Never Mind the Shares, What About the Options (forbes.com)
- Facebook IPO: social network makes stock market debut – live blog (guardian.co.uk)
- Facebook set to go public with record IPO (business.financialpost.com)
- Facebook IPO Live Blog (thestreet.com)
- Wallstreet Journal
- Facebook IPO: IPO Delayed 5 Minutes By Nasdaq (blogs.wsj.com)
- Lawsuit Could Wipe Out Facebook IPO Windfall (newser.com)