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Bearish == skeptical. I don't intend to buy FB and I think it's overvalued. But I say that because I think FB's style of social networking is a fad, not becaus
by cageface 14y ago
Bearish == skeptical. I don't intend to buy FB and I think it's overvalued.
But I say that because I think FB's style of social networking is a fad, not because I believe crude aggregate statistics of internet companies in general tell us something useful in FB's case.
- freshfunk 14y agoSocial networking is not a fad. If anything it's becoming an underlying utility of the internet much like email, instant messaging and search. Any technology that's so core to the internet starts out as a standalone application (hotmail, AIM, Google) and becomes an underlying layer. Facebook's advantage? They have a virtual monopoly on this utility. Not only that, switching costs are high (unlike email and search). Look at the kind of growth apps gets from integrating with Facebook (Instagram, Viddy, Spotify). All social apps going forward will only reinforce their position by integrating with them.
- cageface 14y agoPeople used to say exactly the same things about Compuserve and AOL. Internet castles tend to be built on sand.