Re:Wizards of bullshit: How Forbes turned $6.5 million into ...
by gojomo on Wednesday June 29, 2011 @04:48PM
(#2711238)
Thanks, I forgot about that. It should be at 37signals! :)
I agree with you on Groupon as much as I disagree on Facebook. Groupon has a nice gimmick that's easy to copy and has been fueled by novelty and unsustainable incentives – and in my personal experience, even some outright corporate dishonesty.
Facebook has strong lock-in effects and unique targeting capabilities. On any screen in any net cafe worldwide, you're likely to see many people using Facebook. It was worth more then $30B last year when you dismissed that valuation based on a 3% investment, it has a good chance of being worth more than the $70B suggested by multiple small private transactions today.
I agree with you on Groupon as much as I disagree on Facebook. Groupon has a nice gimmick that's easy to copy and has been fueled by novelty and unsustainable incentives – and in my personal experience, even some outright corporate dishonesty.
Facebook has strong lock-in effects and unique targeting capabilities. On any screen in any net cafe worldwide, you're likely to see many people using Facebook. It was worth more then $30B last year when you dismissed that valuation based on a 3% investment, it has a good chance of being worth more than the $70B suggested by multiple small private transactions today.