
Peter Thiel: Facebook is Undervalued - lotusleaf1987
http://thenextweb.com/us/2010/09/27/peter-thiel-facebook-is-undervalued/
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_delirium
Thiel says:

 _"Back in 2008, we heard talk of another tech bubble, because people thought
Facebook was overvalued at $500 million. Flash forward to today, and it’s
clearly worth a lot more than that."_

Did this happen? Who in 2008 was talking about Facebook at $500 million, and
complaining it was overvalued? People around that time were talking about
Facebook at _$15 billion_ being overvalued (e.g.
[http://www.wired.com/techbiz/startups/news/2007/10/facebook_...](http://www.wired.com/techbiz/startups/news/2007/10/facebook_future),
<http://www.youtube.com/watch?v=I6IQ_FOCE6I>).

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bhiggins
"Thiel’s remarks were largely motivated by his understanding of the tech
sector."

Facebook is not in the tech sector. They're in, I don't know, some kind of
nonsense social sector. Technology is more incidental to their business, just
like with Craigslist, eBay, Foursquare, YouTube, Reddit, and so on... all
these sites _eventually_ had serious technical challenges, _after_ they
successfully filled a social need. Not the other way around.

And that doesn't mean you're going to continue to be successful. Just look at
MySpace, LiveJournal, Friendster, Digg, delicious, and so on...

