Their market cap is based on fantasy (but which growing tech company's isn't?) Facebook's valuation is founded on the nebulous idea that somehow facebook's comb

Their market cap is based on fantasy (but which growing tech company's isn't?) Facebook's valuation is founded on the nebulous idea that somehow facebook's combination of tech talent and userbase will result in massive profits in the future. Meanwhile, facebook managed to game the IPO system deftly and extract a huge wad of cash from investors (and win a massive payoff to its early stage investors), it took almost a full year for the market valuation of facebook to get back to a state where the folks who bought in early to the IPO could finally pass their stock off to other suckers without taking a loss.