I haven't really questioned facebook valuations in general, but the last month or so is definitely feeling like pump and dump.
Hype around Second Market, the Goldman-Sachs deal - I get the feeling that there's lots of people working very hard to find a larger set of fools to dump the stock on. The SEC investigation of Second Market seems timely.
Combine that with the fact that facebook is less exciting as a product, the APIs are a huge, buggy, expanding mess, and their market is looking saturated.
Hype around Second Market, the Goldman-Sachs deal - I get the feeling that there's lots of people working very hard to find a larger set of fools to dump the stock on. The SEC investigation of Second Market seems timely.
Combine that with the fact that facebook is less exciting as a product, the APIs are a huge, buggy, expanding mess, and their market is looking saturated.
Techcrunch on the bandwagon kind of seals it.