Is Facebook really worth $5 billion

brett alan bern facebookIt’s madness. It really is.

Facebook is set to go public today and they are estimating its worth at $5,000,000,000. That’s billion.

And how do they make most of their money? By those little ads you see on the right side of your Facebook page.

What’s that? You’ve never noticed those ads?

Or you’ve noticed them, but they were completely irrelevant and annoying?

Exactly.

I really think Wall Street has completely lost its mind and NOBODY seems to take any lessons from the major bubbles in the past 12 years.

Groupon turns down a $6 billion offer from Google.

Amazon turns ungodly sales this past quarter (in the billions…there’s that number again) but their stocks go down because they didn’t meet expectations.

Madness. Complete madness.

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