Two differences between Facebook and Groupon immediately occur to me. First, despite everything else that's wrong with it, Facebook's business model does not d

Two differences between Facebook and Groupon immediately occur to me. First, despite everything else that's wrong with it, Facebook's business model does not depend on persuading small businesses to sell goods and services at less than their cost. Second, Facebook has generated significant value in the form of non-replicable technology, infrastructure, and connectedness to just about everything else on the net. None of this is true of Groupon. There is nothing hard to copy about Groupon, and "find more suckers" pretty much sums up their business model. These are the differences between a company with staying power and a company without it, so only a fool would expect similar IPO outcomes.