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I think it's fairly safe to say most people paying attention would have predicted this (obviously financial analysts aren't as cynically-savvy as us HN lurkers)
by nicholassmith 14y ago
I think it's fairly safe to say most people paying attention would have predicted this (obviously financial analysts aren't as cynically-savvy as us HN lurkers).
Is this bad news for Facebook? Sure, the company is getting a hammering in the press. Have they made out like filthy bandits from the IPO? Of course. They've sold enough shares to keep going for a long while, but unless they can find a truly innovate mobile strategy they'll burn cash like no ones business.
- emmett 14y agoYou know Facebook is profitable right? Maybe not VERY profitable compared to other internet giants, but they made $1 billion in 2011. http://techcrunch.com/2012/02/01/facebook-1-billion-profit/ http://techcrunch.com/2012/02/01/facebook-1-billion-profit/
- nicholassmith 14y agoYeah, I wasn't too much concerned about current profit, but more future profit. Mobile is sticky and increasing, if they can't get a profit stream off it they'll start burning cash on users they're not making much money on.