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Facebook's "close rate" on new employees it wants to hire hovers around 80% ... for a company with the potential to mint hundreds of millionaires in a rare Sili
by abstractbill 18y ago
Facebook's "close rate" on new employees it wants to hire hovers around 80% ... for a company with the potential to mint hundreds of millionaires in a rare Silicon Valley IPO, both numbers seem low.
Right, but it's increasingly unlikely that any new employee will be among those millionaires.
- jonknee 18y agoAnd that there will be any significant number of millionaires. It has yet to be monetized.
- teej 18y ago> It has yet to be monetized. Incorrect. It has yet to become profitable.
- jonknee 18y agoSuccessfully monetized then. We can play semantics all day, but Facebook has lost a shit ton of money and has no plan to make a shit ton + X(billion) in the near future .
- teej 18y agoThere is a huge difference between a -$300M run rate and a shrinking -$150M run rate. Monetization isn't always about turning on one big switch, but about turning on lots of little switches. Remember, Facebook makes -tens of millions- of dollars on people sending a picture of flowers to their friends. There are plenty of other opportunities for Facebook to make money, they're just making sure to do it right. MySpace is profitable - then again, who is on MySpace anymore?
- furburger 18y agoit doesn't matter. employees only become rich if the stock goes crazy. lots of profitable companies have craptastic stocks.
- jonknee 18y agoIt matters completely, if Facebook can't get a plan together to make tons of money there won't be an IPO to bring in the fuck-you money. Right now they are unprofitable and have no great outlook that would lead to an IPO.