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(CNN)   Facebook stock surges 45 cents a share after Mark Zuckerberg says he's going to do something incredibly stupid   (buzz.money.cnn.com ) divider line
    More: Unlikely, CEO Mark Zuckerberg, Facebook, lock-up period, bond markets, intraday, SEC filing  
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4894 clicks; posted to Business » on 05 Sep 2012 at 3:00 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



37 Comments   (+0 »)
   
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2012-09-05 12:46:39 PM  
Yeah, good luck with that. I think there's another billion shares that are going to hit the market in November, in addition to the 234 million that will be freed up in October.
 
2012-09-05 01:39:58 PM  
I guess I made a wise move in not investing in Faceberry.

Though based on my performance on the Yahoo stock game many years ago, I'm sure I would have caused Apple to tank anyway.
 
2012-09-05 01:49:23 PM  
Before the IPO, Zuckerberg told everyone that was thinking of investing that he didn't give two shiats for their opinions, nor about short-term financial goals. He also said that Facebook is more about the users than the clients or shareholders. A lot of people went into this thinking everything was shiny, but it's not like they weren't warned, they just weren't paying attention.
 
2012-09-05 03:08:05 PM  
Is he going to buy the time cube website for a billion dollars?
 
2012-09-05 03:09:41 PM  
Facebook shares bounce back. And by bounce back we mean return to just less than 50% of their IPO price.

/dead cat bounce?
//probably not but I just love that term
 
2012-09-05 03:13:35 PM  
www.myfacewhen.net

BREAKING NEWS: Bank and hedge fund algorithms respond to headline about Facebook.
 
2012-09-05 03:14:40 PM  

I_Am_Weasel: I guess I made a wise move in not investing in Faceberry.


I finally bought in yesterday. Facebook isn't going away and its a long term play.

I_Am_Weasel:
Though based on my performance on the Yahoo stock game many years ago, I'm sure I would have caused Apple to tank anyway.

Yahoo has never truly defined itself. What is it? A search company? An advertising company? A media company? You are under no delusions what Google is (advertisement all the way).  A company that doesn't seem to have any focus is always a bad play.
 
2012-09-05 03:16:47 PM  
Anybody who was foolish enough to invest in a company run by this asshat deserves the misery they will receive.
 
2012-09-05 03:18:16 PM  

gingerjet: Facebook isn't going away


Because if one thing in this world has proven stable over time, it's the popularity of individual social networking websites. And if there's one dedicated and non-fickle group of people, it's the users of those sites.

gingerjet: A company that doesn't seem to have any focus is always a bad play.


Says the guy who just bought stock in a company that kinda makes its money sorta selling ads on its main website even as most people move to its mobile apps....
 
2012-09-05 03:18:49 PM  

gingerjet: A company that doesn't seem to have any focus is always a bad play.


So...you bought Facebook why?
 
2012-09-05 03:30:59 PM  

Pincy: Anybody who was foolish enough to invest in a company run by this asshat deserves the misery they will receive.


Bears repeating, quoted for truth, et cetera, et cetera.
 
2012-09-05 03:36:36 PM  

HotWingConspiracy: Is he going to buy the time cube website for a billion dollars?


He's going to buy Isla Nublar, and hire a bunch of paleontologists and geneticists for a secret project.
 
2012-09-05 03:40:39 PM  
The smart money is here:

favebiik.com
 
2012-09-05 03:52:41 PM  

HotWingConspiracy: Is he going to buy the time cube website for a billion dollars?


Just think of the untapped potential. Just invest a simple $10,000 to refresh the layout, and you'll be receiving that much in payback each day. That's 4 times the investment in same 24 hours.
 
2012-09-05 04:17:09 PM  

I_Am_Weasel: I guess I made a wise move in not investing in Faceberry.

Though based on my performance on the Yahoo stock game many years ago, I'm sure I would have caused Apple to tank anyway.


When I first saw this and what they were talking about it I knew it was the BUYX and IPET of this economic cycle
 
2012-09-05 04:25:34 PM  
Didn't he already sell like a billion $ worth of shares?
 
2012-09-05 04:27:17 PM  

gingerjet: I finally bought in yesterday. Facebook isn't going away and its a long term play.


hahaohwaityoureserious.jpg

Kids, this is an example of Poe's law.
 
2012-09-05 04:33:01 PM  
I'm surprised he has any money at all after donating all that money when peole share pictures of deformed babies, burn victims, wounded cats & dogs, and victims of domestic violence.
 
2012-09-05 04:42:29 PM  

Pincy: Anybody who was foolish enough to invest in a company run by this asshat deserves the misery they will receive.


My guess is ZB hasn't been running the company for the past 3+ years. He's the CEO by title and "visionary" but no way is he involved with managing anything, including those who report to him on the org chart. Some other highly paid team is doing all that crap.
 
2012-09-05 05:11:16 PM  

valkore: Pincy: Anybody who was foolish enough to invest in a company run by this asshat deserves the misery they will receive.

My guess is ZB hasn't been running the company for the past 3+ years. He's the CEO by title and "visionary" but no way is he involved with managing anything, including those who report to him on the org chart. Some other highly paid team is doing all that crap.


Ya, I'm guessing you are right. Still, I would not buy stock in a company in which he has a lot of influence.
 
2012-09-05 05:26:43 PM  

Vegan Meat Popsicle: gingerjet: Facebook isn't going away

Because if one thing in this world has proven stable over time, it's the popularity of individual social networking websites. And if there's one dedicated and non-fickle group of people, it's the users of those sites.

gingerjet: A company that doesn't seem to have any focus is always a bad play.

Says the guy who just bought stock in a company that kinda makes its money sorta selling ads on its main website even as most people move to its mobile apps....


Welcome to Fark
 
2012-09-05 05:38:19 PM  

valkore: Pincy: Anybody who was foolish enough to invest in a company run by this asshat deserves the misery they will receive.

My guess is ZB hasn't been running the company for the past 3+ years. He's the CEO by title and "visionary" but no way is he involved with managing anything, including those who report to him on the org chart. Some other high barely paid team intern is doing all that crap.

 
2012-09-05 05:46:55 PM  
Of course Zuck is holding onto his shares. Owning the majority of the shares is what ensures he is in ultimate control of the company he created. He has seen too many instances of founders being drummed out of companies they built and he isn't going to let it happen to him. Also pretty obvious he doesnn't care about investors. His strategy was to fleece them for all he could to maximize revenue for FB in the IPO. It all worked to perfection.

I want to see which masochists come back for seconds when FB makes another offering down the road.
 
2012-09-05 05:49:50 PM  
after Mark Zuckerberg says he's going to do something incredibly stupid

Whatever stupid things Zuckerberg does, they can't compare to investing money in the IPO of a company that's structured such that the inexperienced and egomaniacal kid CEO could do anything he wanted to the firm and the shareholders would be powerless to stop him.
 
2012-09-05 06:54:27 PM  
I'm guessing he's lying. Because, TECHNICALLY, his BROKER sold his shares.
 
2012-09-05 07:07:23 PM  
gingerjet:
Facebook isn't going away.


Neither has Myspace but who the hell uses that any more? Facebook will probably linger around for a while but something shinier will eventually come along and ursup it. It always does.
 
2012-09-05 07:18:33 PM  
You invest your money with a thief like Zuck, then don't cry when you get burned.
 
2012-09-05 07:28:41 PM  
I'm not the most savvy investor, but I seem to recall that there's something called a "collar" that involves buying options in both directions, which typically cancel each other out... but also put a floor (and a ceiling) on someone's security.

So I'm guessing that Zuck can hold onto it for a quite a long time, but he never has to worry about it hitting zero. In other words, he's being a bit disingenuous.
 
2012-09-05 07:34:32 PM  

timujin: Before the IPO, Zuckerberg told everyone that was thinking of investing that he didn't give two shiats for their opinions, nor about short-term financial goals. He also said that Facebook is more about the users than the clients or shareholders. A lot of people went into this thinking everything was shiny, but it's not like they weren't warned, they just weren't paying attention.


Do you have a citation?

All i could find was:
http://techcrunch.com/2012/05/18/zuckerberg-opening-remarks/

Not the most 'screw you guys, we're not in it for money.' Just more like, "I don't know how to be CEO of a public company. "
 
2012-09-05 07:47:40 PM  
Funny how promising that this isn't a pump and dump for this quarter brings positive results for Facebook.

"I promise not to sell my shares for at least a year" translates to consistency for the market investors. Bad consistency is still consistency.
 
2012-09-05 08:39:09 PM  

Starfly: timujin: Before the IPO, Zuckerberg told everyone that was thinking of investing that he didn't give two shiats for their opinions, nor about short-term financial goals. He also said that Facebook is more about the users than the clients or shareholders. A lot of people went into this thinking everything was shiny, but it's not like they weren't warned, they just weren't paying attention.

Do you have a citation?

All i could find was:
http://techcrunch.com/2012/05/18/zuckerberg-opening-remarks/

Not the most 'screw you guys, we're not in it for money.' Just more like, "I don't know how to be CEO of a public company. "


There was an article about it in Business Insider:
http://www.businessinsider.com/facebook-stock-letter-shareholders

There's a link to the whole letter, but the pertinent part is quoted in the article itself:

Before I begin, let me remind you that I own 57% of the voting stock of Facebook, which means I have complete control over it. I organized the company this way many years ago, with the very deliberate intention of maintaining complete control over it. I did this so I wouldn't get overruled and canned by venture capitalists, a fate that unfortunately befalls many entrepreneurs. I also did it so in the event that we ever had to go public-which we unfortunately have to do now-I would never have to pay attention to whiny short-term public shareholders. Those whiny short-term public shareholders have destroyed many great companies by making management obsess about absurd near-term financial targets. I have made sure that that's never going to happen to Facebook. If there ever comes a day when you and I disagree about the future direction of the company, rest assured: Your choice will be my way or the highway.
 
2012-09-05 09:55:09 PM  
That's like buying the debt of all your friends on chances they will win the lottery.
 
2012-09-06 05:07:20 AM  

gingerjet: I_Am_Weasel: I guess I made a wise move in not investing in Faceberry.

I finally bought in yesterday. Facebook isn't going away and its a long term play.

I_Am_Weasel: Though based on my performance on the Yahoo stock game many years ago, I'm sure I would have caused Apple to tank anyway.

Yahoo has never truly defined itself. What is it? A search company? An advertising company? A media company? You are under no delusions what Google is (advertisement all the way).  A company that doesn't seem to have any focus is always a bad play.


Y! is a big huge steaming pile of FAIL.
 
2012-09-06 07:49:59 AM  
Again: Apple and Google sell for about 15x and 20x earnings respectively. Anybody who would pay 103x earnings for Facebook, which isn't even in the same galaxy as Apple and Google as results and business models go, deserves to lose everything.
 
2012-09-06 09:51:22 AM  

timujin: Starfly: timujin: Before the IPO, Zuckerberg told everyone that was thinking of investing that he didn't give two shiats for their opinions, nor about short-term financial goals. He also said that Facebook is more about the users than the clients or shareholders. A lot of people went into this thinking everything was shiny, but it's not like they weren't warned, they just weren't paying attention.

Do you have a citation?

All i could find was:
http://techcrunch.com/2012/05/18/zuckerberg-opening-remarks/

Not the most 'screw you guys, we're not in it for money.' Just more like, "I don't know how to be CEO of a public company. "

There was an article about it in Business Insider:
http://www.businessinsider.com/facebook-stock-letter-shareholders

There's a link to the whole letter, but the pertinent part is quoted in the article itself:

Before I begin, let me remind you that I own 57% of the voting stock of Facebook, which means I have complete control over it. I organized the company this way many years ago, with the very deliberate intention of maintaining complete control over it. I did this so I wouldn't get overruled and canned by venture capitalists, a fate that unfortunately befalls many entrepreneurs. I also did it so in the event that we ever had to go public-which we unfortunately have to do now-I would never have to pay attention to whiny short-term public shareholders. Those whiny short-term public shareholders have destroyed many great companies by making management obsess about absurd near-term financial targets. I have made sure that that's never going to happen to Facebook. If there ever comes a day when you and I disagree about the future direction of the company, rest assured: Your choice will be my way or the highway.


The part of the article you quoted is not what Zuckerberg actually said, thats a "translation" of his opening paragraph:

Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected.

We think it's important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do.

I will try to outline our approach in this letter.
 

I think though it is basically what he meant.
 
2012-09-06 01:38:39 PM  

Pinko_Commie: The part of the article you quoted is not what Zuckerberg actually said, thats a "translation" of his opening paragraph:

Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected.

We think it's important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do.

I will try to outline our approach in this letter.

I think though it is basically what he meant.


ah, thanks, I misread that part. Still, as you said, it's basically what he meant. Facebook is focused on Facebook's mission, not on short-term profits for stockholders.
 
2012-09-06 02:23:37 PM  

timujin: Starfly: timujin:
There's a link to the whole letter, but the pertinent part is quoted in the article itself:

Before I begin, let me remind you that I own 57% of the voting stock of Facebook, which means I have complete control over it. I organized the company this way many years ago, with the very deliberate intention of maintaining complete control over it. I did this so I wouldn't get overruled and canned by venture capitalists, a fate that unfortunately befalls many entrepreneurs. I also did it so in the event that we ever had to go public-which we unfortunately have to do now-I would never have to pay attention to whiny short-term public shareholders. Those whiny short-term public shareholders have destroyed many great companies by making management obsess about absurd near-term financial targets. I have made sure that that's never going to happen to Facebook. If there ever comes a day when you and I disagree about the future direction of the company, rest assured: Your choice will be my way or the highway.


I have give him props for this because it's exactly true and this is how companies should all be run in my opinion. Far too many great companies imploded by only looking 3 months ahead.
 
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