Exactly. Not to mention the fact that facebook is near monopoly status. If you were to add every single car manufacturer together, surely you'd get a much high

Exactly. Not to mention the fact that facebook is near monopoly status. If you were to add every single car manufacturer together, surely you'd get a much high valuation. If the social network space were as diverse (in terms of relative player weight, not total number of players), we wouldn't be having this discussion. Facebook's valuation reflects the value of the social-networking market perhaps more than its value as a single business?