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Peter Thiel: Facebook is Undervalued
- _delirium 16y agoThiel says: "Back in 2008, we heard talk of another tech bubble, because people thought Facebook was overvalued at $500 million. Flash forward to today, and it’s clearly worth a lot more than that." Did this happen? Who in 2008 was talking about Facebook at $500 million, and complaining it was overvalued? People around that time were talking about Facebook at $15 billion being overvalued (e.g. http://www.wired.com/techbiz/startups/news/2007/10/facebook_future http://www.wired.com/techbiz/startups/news/2007/10/facebook_..., http://www.youtube.com/watch?v=I6IQ_FOCE6I http://www.youtube.com/watch?v=I6IQ_FOCE6I).
- bhiggins 16y ago"Thiel’s remarks were largely motivated by his understanding of the tech sector." Facebook is not in the tech sector. They're in, I don't know, some kind of nonsense social sector. Technology is more incidental to their business, just like with Craigslist, eBay, Foursquare, YouTube, Reddit, and so on... all these sites eventually had serious technical challenges, after they successfully filled a social need. Not the other way around. And that doesn't mean you're going to continue to be successful. Just look at MySpace, LiveJournal, Friendster, Digg, delicious, and so on...