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HUFFPOST SUPER USER
SMH1960
Don't buy while millions die! Adopt/Spay/Neuter
05:27 PM on 05/19/2012
I am really enjoying the hypocritical commentators bashing Facebook. Hey, isn't this the American Dream? What the good ol' USA was founded on? Democracy, Capitalism and a chance to get rich? And they when you do....well, you are the biggest a$$ ever for a myriad of reasons. Hysterical! Jealousy is all it is.... And now that Zuckerberg is worth a mint, he's right up there with the Romney clan who were born with a silver spoon in their mouth, who got richer by taking over companies and losing jobs. But that's ok, right? Nothing wrong with that, huh? But because Zuckerberg started with nothing and is now a billionaire-well, he must have many moral defects! Gotta love it.
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Robert SF
03:34 AM on 05/21/2012
No, this never was the American Dream. The American Dream was supposed to be for everyone. The idea was that EVERYONE could have the American Dream if they just got a job and didn't hit the bottle too hard. Don't you remember when everyone could be middle-class?

What we have today is the American Lottery. Most people work hard and never get anywhere, and just a few people get lucky and become millionaires. That's not the American Dream.
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SMH1960
Don't buy while millions die! Adopt/Spay/Neuter
04:12 PM on 05/21/2012
That's the Republican's dream.....
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ChezBaker
I got mine Vs. I got yours
05:10 PM on 05/19/2012
This is a simple fix. stop using facebook.
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Otherday
Chief Imperial Sage, Earth, Milky Way Quadrant
05:05 PM on 05/19/2012
Everyone should have an equal chance at these IPO deals. It's rigged, no doubt. I live in Oregon, and Facebook built a data center out in the central part of the state, to take advantage of cheap hydropower. The county promised them a no-tax deal, but the state of Oregon wasn't going to go along with that. In the end, Zuckerberg, now with his $19 Billion, doesn't have much of a tax bill out here. Sweet. Meanwhile, schools close, roads need repair, ... Taxes are something only the little people need concern themselves with.
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04:59 PM on 05/19/2012
Would anybody here personally invest 100B in a company that has earned a total of
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04:52 PM on 05/19/2012
So Zuckerberg is personally worth 19 billion now, or 12 billion more than the total revenues for his company--total, not annual. The company is worth about 10 times their total revenues. I love how divorced from reality Wall Street is...
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11:36 PM on 05/19/2012
Don't buy stocks. Pay off your mortgage instead.
01:39 PM on 05/20/2012
stocks have become machines that only pay off the earliest of investors with special knowledge and access, and the ceo management teams who are really looting the company with the help of the Boards. The rest who invest are simply pushing up the price a little which with leverage pays off the above parties handsomely as they serially get out.
01:43 PM on 05/20/2012
Zucker is worth that on paper. He would have to sell to realize that worth. What do you su
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FreedomMan
Writer, Illustrator, Philosopher
04:50 PM on 05/19/2012
For the run of the mill facebook stock purchasers . . . your now close up and gazing at the wrong end of that Bull.
03:10 PM on 05/19/2012
It may be there are different ways of dealing with money. Some know how to manage money and others don't. I think my husband and I learned from each other. He would buy things that I thought were extravagant, but usually it worked out. I learned to loosen up and he learned to tighten up. I was taught to be saving and he wasn't real happy with me insisting that we put money in a savings account or spending time comparing prices. As time went on we did OK. Well...until Bush and Bernanke.

I have seen women with a lot of money, land and a beautiful home accumulated by her husband before he died and then they let their next spouse squander the money.

A friend of my father in law died and his son came back here to take care of everything. The deceased man had saved a lot by saving every penny he could, but his son treated us out to the most expensive restaurant in town which would have made his dad roll over in his grave. He blew money until it was gone. His brother however paid off his home with his share.

Probably only 5% of the people have 'money sense'. It may take foresight and clear thinking that some don't have.

If I had it to do over, I would have helped the kids more financially instead of using a 401k.
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11:38 PM on 05/19/2012
Opposites attract. Spenders hook up with savers. Imbalance becomes balance. It's the natural order of things.
11:02 AM on 05/20/2012
Yes, although sometimes savers hook up with savers and those who want to use their money now hookup with another like them.

I suppose the savers accurmulate a lot and those who spend all their money don't accumulate much, but they may have some great memories.

There is a certain amount of satisfaction to have your home paid for knowing no one can take it from you as long as you pay the property taxes. That makes me feel better than if I took trips.

My mother was very frugal. If the gov depended on her purchasing power the country would have went bankrupt.
02:45 PM on 05/19/2012
Yesterday’s Facebook IPO could wind up being the new whipping boy for more Wall Street reform.

Forget JP Morgan’s disastrous Nantucket Sleigh Ride of a trade. That may pale in comparison to what happened yesterday.

If Facebook’s stock goes below the IPO price of $38.00 next week, look for the Elizabeth Warrens of the world and dozens of other prairie populists to start screaming to rescind the deal and give post IPO investors their money back.

And they may just have a point.

You see, the Facebook IPO was never about the company. It was always about the insiders and the underwriters pocketing as much cash as they could. Unfortunately for them and everyone involved, it appears that they did so at the expense of Mr. and Mrs. John Q. Public.

Read more at: http://politinomics.com/politinomics-investor/facebook-ipo-the-new-whipping-boy-for-wall-street-reformers
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JPatrickRader
persona non grata
05:35 PM on 05/19/2012
I'm in agreement with you...I think if one were to look at the Facebook IPO under a microscope, we would see just how few "real" dollars Wall Street is worth these days. 21st century, Wall Street millionaires and billionaires are probably worthless outside their world of fortunes on paper.
02:35 PM on 05/19/2012
David - Really nice analysis! I havven't seen your byline before so I'll be looking for it in the future.

Arguably, the worst part is the "Insider Advantage." One goof below posted that there is nothing keeping anyone from buying Facebook stock. During the high profit phase of the large investors get the first option to buy, often at discounted prices. Smaller investors can buy only after the huge profits have been taken by large investors. It is not a free market and once again, the rich big guys get richer through insider advantage.
02:32 PM on 05/19/2012
I have trouble investing most of the time because I can't see it is worth it. I was on Facebook and didn't like it. I could talk to friends and family with texting or messaging without facebook. I hated their farming dealy and their slot machines were childish. I know that advertisers like to be on Facebook and that is where the money come's from, but I don't see it would take that much to start you own type of Facebook website with a few games. As far as content, many could do better than Facebood does.

Employers wanting your password to web site on face book it added another obsturction to freedom.
It is sad that they are allowed to do this. It is like they have us in the dirt now they are going to smear our face in it.
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FreedomMan
Writer, Illustrator, Philosopher
04:51 PM on 05/19/2012
Facebook Fools and their personal information are soon parted.
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JPatrickRader
persona non grata
05:39 PM on 05/19/2012
Several weeks ago, I read somewhere, "Mark Zuckerberg takes the private information of individuals and sells it to corporations for a profit. He's TIME's Man of the Year. Julian Assange takes the private misdeeds of corporations and governments, and exposes them to the public for free. He is a criminal." Go figure.
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11:39 PM on 05/19/2012
It's alot safer and far more satisfying conversing with your cat instead of being on Facebook.
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CountLeo
It's a rich language - learn to use it.
02:23 PM on 05/19/2012
The 'disconnect between corporate success and job creation' is also termed the 'tech revolution' and astute workers should get used to it. Educate yourself and learn how to use a blood computer for something other that surfing for porn. Very few large companies will grow a large labor staff in this country. It's called globalism and it is here to stay. It's unfortunate but unless you do something that requires the nth degree of skill there is someone somewhere else who will do it for a lot less money.
Ebeneezer Frib
Conservatism: Ideology divorced from practicality
01:57 PM on 05/20/2012
The only problem with that is that we've got 300 million people (and counting) in this country who need to, ya know... eat, pay for housing, stuff like that. And they need jobs to do that. What do we do about them?

Also, for most businesses, those people are your customer base. You won't sell many iphones if nobody has a job, so at some point this attitude becomes self-defeating, even for the rich.

There are downsides to globalism that really need to be considered, not just brushed aside.
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CountLeo
It's a rich language - learn to use it.
03:31 PM on 05/20/2012
Here's what you do. Maybe not you but many. Quit whining about your job. Get a better one. Be so damned good that other company's are trying to hire you. Quit whining about education. No one owes you a damned thing. Go to night school. Go to MIT - free! - on the web. Take charge of your life and tell the government to shove off. one in a thousand will do this. The other 999 will march on the White House looking for food stamps and free iPhones.
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02:02 PM on 05/19/2012
This guy’s nuts. However, if he received $2B in any manner, he would not be writing this article. Another case of the have’s against the have not’s. You realize, Facebook could have moved the entire operation out of the country and gone public over seas. They could have even moved it out of CA to save taxes and they did not. This guy’s a wana-be.
03:57 PM on 05/19/2012
how many shares do you have?
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04:54 PM on 05/19/2012
If he received $2B, he'd have received over 25% of what Facebook has earned over the years. This IPO just illustrates how crazy Wall Street is. If I earn 75K a year, Wall Street would value me at 750K?? Their math is nuts.
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01:12 PM on 05/19/2012
Agree, not all of us are celebrating. So much wealth inequality. It's becoming you either have to much or too little. I don't have a Face Book account. I never will.
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03:06 PM on 05/19/2012
Whew! I thought I was the last person on Earth that didn't have a Facebook account ;-)
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HUFFPOST SUPER USER
Faust Eddie
12:20 PM on 05/19/2012
The person who invented the pet rock did well also. I don't think a lot of jobs were created with that either.
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Robert SF
03:49 PM on 05/19/2012
Gary Dahl indeed became rich, but he sold only 1.5 million of them. They're in completely different leagues.
03:58 PM on 05/19/2012
indeed. pet rocks conduct more intelligent, civil discourse than most of what appears on facebook.
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HUFFPOST SUPER USER
Faust Eddie
05:18 PM on 05/19/2012
It was a lot of money in the 70s!
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Faust Eddie
12:18 PM on 05/19/2012
Nobody is stopping anybody from buying the Facebook stock.