
Facebook is not worth $33B (2010) - aml183
https://signalvnoise.com/posts/2585-facebook-is-not-worth-33000000000
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jondubois
I didn't realize this was an old article initially and I was thinking to
myself... Yes it's true. So right, Facebook should not even be worth $33
billion! I thought he was going to argue that most of the profits which FB
makes come from large corporations which have easy access to free credit and
just pour the money into Facebook ads as a way to get tax deductions and
faster growth by artificially reducing their profit margins. Then those
profits show up on Facebook's books instead!

That somehow it was all the result of the US Federal Reserve Bank's decade
long policy of near 0% interest rates.

Based on how the world used to be, DHH would be absolutely right - But the
world has changed. The financial system is an elaborate fraud and we must all
find ways to accept it and navigate it.

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starchild_3001
Let's just say it's hard to predict the future :)

