Facebook failed IPO has continuing consequences
Facebook has been in the headlines this morning for hiring half a dozen prized ex-Apple iDevice engineers.
As we reported earlier in the month,
Facebook has been showing a shift in strategy from innovation to acquisition. The best strategy it seems,
is to buy the tech company that has the technology you want so that they cannot sue you when your camera app turns out to be a bad imitation of their flourishing app.
No worries, just spin a few rumors about a partnership with a struggling smartphone operating system
, with engineers from a fad-phone (yep, looking at YOU iPhone) company and for good measure
buy a browser with the smallest, and yet still-shrinking market-share.
Sure, Opera will be a punctuation mark at the end of an article about when Facebook started to take a turn for a worse. Facebook seems to be going through the motions and make the same landmark developments as Google did, except with none of the buzz.
Facebook has effectively spurned the tech-world and burst any hope of a developing tech-bubble boom that Silicon Valley desperately needs at a time like now.
This IPO made money for three people; Mark Zuckerberg, Bankers, and Lawyers. Anyone else foolish enough to not see the warning signs lost money, and have no chance of getting it back. Some have resorted to a class action lawsuit against the underwriters of the FB stock, Morgan Stanley,, who were responsible for artificially manipulating the market by buying shares of FB that they did not intend to keep, only to keep good on their claim that you should just keep buying FB stock. This is the business-end of Facebook of course; Facebook on the web will always have users – Mom and Grandma are just now catching on to the hip social-sensation their kids were talking about non-stop a few years ago. Hey, Myspace still has users right?
If you keep making bad business decisions, it trickles down and alienates the user-base with a sub-par experience. How much will you take from Mark Zuckerberg and the 1%ers before you have had enough? Let me know in the comments below.
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News, Opinion, Rants and tagged apple, facebook, Facebook IPO, Facebook Phone, instagram, iPad, iPhone, morgan stanley, Windows on .
May 28, 2012