Revenue is great. But what about profitability? Right now it is unclear how they will ever profit and I think you have to take that into account when you make

Revenue is great. But what about profitability? Right now it is unclear how they will ever profit and I think you have to take that into account when you make your valuation. You can't say, "well Google did not know how they were going to profit but they figured it out" because when you do that you just bloat the evaluation through mindless speculation. Bloated valuations == bubble, which is why I think we may be blaming fb if/when the next tech bubble arrives. Revenue is relatively easy to generate. Profit is much more difficult. I have seen revenue projections between 250 and 300 mil for this year, which is ~2.08 to 2.50 per user. That sucks. Plain and simple. End of story. It costs more per user to run the site right now. Then again (yes I am arguing with myself) the valuation can and should take into account what someone else could do with that data. Just because Facebook (Zuckerberg) sucks at monetizing the social graph does not mean someone else would suck too.