Facebook stock is up 40%.
Apparently the “biness” is growing; meaning there are more users. It is also developing, or has developed, a
mobile app; meaning more people are on it, in more places, at all times. But it is revenue that makes stocks go up,
not mere usage, and Facebook revenue seems to be up as well. Good for Facebook and its stock owners. A company that produces fuck-all and makes
money selling advertising is doing better than the broader stock market with
stocks of companies that actually produce tangible goods. Granted Facebook “produces” a communication
environment; and god knows, maybe those communicating on it actually exchange productive
ideas...
I’m nothing if not optimistic in my pessimism.
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