Facebook clearly had something two years ago. In 2011 they managed to generate almost $1 billion in free cash flow on almost $4b billion in revenue...obviously

Facebook clearly had something two years ago. In 2011 they managed to generate almost $1 billion in free cash flow on almost $4b billion in revenue...obviously there is a business model in there somewhere, even if its valuation is debatable (when isn't it?). Pinterest however, as I understand it, doesn't generate any revenue let alone any profits. It's the whole minor formality of zero freakin revenue that's the tip-off that something is hugely amiss with Pinterest as a capitalistic enterprise.