Cheers for the bump brain_wash. I read the piece in WSJ and some other coverage as well. I stand by my initial analysis and reasoning. They could go public tomorrow at $57B (which I don’t think they would fetch, but even if they did…) and I would stand by my thinking. Facebook is a great company, no doubt about it. Massive growth, dominant market share, not a lot of need for fixed assets…but when you price in the risks (namely, the changing competitive landscape, the inevitable slowing of growth, the far-too-rosy assumptions regarding their monetization strategy, and MORE THAN ANYTHING ELSE, the price), I would not be interested in it at these valuations.