Saturday, May 26, 2012
Facebook IPO, the Titanic of 2012
Like the Titanic in 1912 Facebook's launch as a publicly traded company in 2012 has figuratively met the same fate as the Titanic's 1912 maiden voyage. Like the Titanic, Facebook's IPO was unsinkable and like the Titanic, Facebook's IPO "sank" on its maiden voyage!
Unlike the Titanic, which had a sustainable business model, except for the arrogance of its leader, Captain Smith, and that pesky iceberg Facebook's business model is not sustainable, although it has a similarly arrogant leader, Mark Zuckerberg.
Here in flyover country, this just does not pass the common sense "smell" test!