It's important to realize that Facebook has done a tremendous job of connecting the non-digerati who previously communicated via infrequent mail or rare phone c

It's important to realize that Facebook has done a tremendous job of connecting the non-digerati who previously communicated via infrequent mail or rare phone calls. While I am very bearish on a 100 P/E, the reality of Facebook's userbase and its engagement is not something to blow off. Facebook has distinctly impressed itself on the communication modality of many many people. Don't underestimate that.