Facebook's "close rate" on new employees it wants to hire hovers around 80% ... for a company with the potential to mint hundreds of millionaires in a rare Silicon Valley IPO, both numbers seem low.
Right, but it's increasingly unlikely that any new employee will be among those millionaires.
Successfully monetized then. We can play semantics all day, but Facebook has lost a shit ton of money and has no plan to make a shit ton + X(billion) in the near future .
There is a huge difference between a -$300M run rate and a shrinking -$150M run rate. Monetization isn't always about turning on one big switch, but about turning on lots of little switches.
Remember, Facebook makes -tens of millions- of dollars on people sending a picture of flowers to their friends. There are plenty of other opportunities for Facebook to make money, they're just making sure to do it right. MySpace is profitable - then again, who is on MySpace anymore?
It matters completely, if Facebook can't get a plan together to make tons of money there won't be an IPO to bring in the fuck-you money. Right now they are unprofitable and have no great outlook that would lead to an IPO.
Right, but it's increasingly unlikely that any new employee will be among those millionaires.