Rapper 50 Cent shared his thoughts on Facebook with DealBook while at the Consumer Electronics Show in Las Vegas last week.
He said he thinks the site is worth at least $50 billion, is not worried about a tech bubble, and spends at least an hour on social media networks each day.
Here are the highlights from Dealbook's interview with 50 Cent, a.k.a. Curtis Jackson.
Q. Why are you increasing your investments in the technology sector?
A. Well I'm just aware of things changing around me. As far as social networking goes, I developed ThisIs50.com. It has over 700,000 registered members and 30 million uniques per month. While a good idea is not really hard to find, finance to support those ideas is difficult. I have an aura, a business man's aura. People know I'm conscientious, and I will make investments.
Q. Are you worried about things getting overheated in tech?
A. Well, nawh. Even in advertisement, you see more online advertisement than physical ads being purchased. When you see the things that were part of the traditional market no longer having the same value and you see where the shift is, where its growing versus where it is deteriorating, I think it's clear what area you should be focused on.
Q. Do you think Facebook is worth $50 billion?
A. They brought in $2 billion in revenues this year. So how many years before it phases out or if it phases out? They just have to do different things to keep it advanced. I'm sure people are working on it.
Q. What do you think it's actually worth?
A. Why isn't there two Facebooks or three? Because it's difficult to get that many people in one place and comfortable with the functions of that network. So I think it is worth that kind of money, maybe more, because everyone is aware of how to utilize it. The kids are converting to the web and computers, so easy, that it's unbelievable. Things that I got to sit and have explained to me three or four times, my son is doing the first time, because he's learning at a different rate. I'll be honest in that area. I've seen him doing things and I go: how you do that, show me that again.
Q. How many hours do you spend on social media sites per day?
A. An hour, an hour and a half.
Read the full interview here.