That is the question.
So everyone’s favorite social media site went public today. Meaning they’re offering stock at $38 a share. But thanks to some market mumbo jumbo that I don’t quite understand, casual people like you or I can’t buy the stock yet. (I have picked up some market knowledge from working for four months at a financial news site but clearly not as much as I hoped. Such is the plight of a (digital) paper pusher.)
For the past week, the news sites I follow at work have barely mentioned anything else besides FACEBOOK! What will it be priced? Is it a good investment? What’s the best strategy? And so on. In all the chatter however, I noticed that the people dominating the conversation are hard core investors who most likely to busy trading to be spending a lot of time on the site.
How’s that for irony? The people who know the site best are being left out of the conversation. There are really no social media experts chiming it. It’s all about money now.
For some reason this really irks me. Perhaps because I’ve been on the site for so long. Back when it was Boston area colleges and invite only. I got in as soon as they opened it up to high-schoolers, back when your network actually meant something.
Or more likely I’m making a big deal out of nothing and I’m just sick of how saturated the news is with basically the same story over and over. I can’t wait for Monday to roll around in the hopes that $FB will be old news. I don’t even care if it does well or not. I just want the media bonanza to be over.