Facebook: Nobody Goes There Anymore; It’s Too Crowded
The VAR Guy loves social media. You might even say he lives or dies by social media. But when it comes to the looming Facebook IPO (stock symbol: FB), The VAR Guy plans to skip the party. As Yogi Berra might say: “Facebook? Nobody goes there anymore. It’s too crowded.”
Sure, Facebook remains great for instant “reunions” — catching up with old friends, family, and long lost peers. And The VAR Guy himself has a growing Facebook presence. But for The VAR Guy, much of the Facebook “magic” stops after that first “hello.”
In fact, a lot of Facebook insiders seem to be saying “goodbye.” Facebook yesterday said it will offer more IPO shares to investors. Is that a sign of strong demand for the Facebook IPO? Or the latest clue that more early investors are looking to cash out? (You can guess which way The VAR Guy is leaning…)
Either way, Wall Street seems pretty darn excited about the Facebook IPO. And The VAR Guy continues to use Facebook daily. But instead of investing in Facebook, perhaps The VAR Guy will open his wallet for some classic books from Alan Greenspan. Perhaps it’s time to read up — again — on irrational exuberance.