There is a lot of talk about a bubble enveloping the tech industry especially when it comes to Web 2.0 and things like social networks. Much was made of the valuation Facebook got not long ago. $15 Billion for a company that had no visible income stream outside of venture capital for which we all had the pleasure of playing within its walled garden.
As for real tangible products that we could touch and feel with our hands - well Facebook doesn’t have anything. Everything to do with Facebook is intangible - nothing more than a bunch of smoke being blown up our butts.
Then today I noticed a post on CNN about how both the Jaguar and Land Rover divisions of the Ford Motor Company were up for sale. With a current bid of $1.5 Billion to $2 billion any one of the big Web 2.0 frat boys could probably buy them up without even blinking.
The iconic symbol of the wealthy that once reigned supreme in the car industry has less of a value than a bunch of what amounts to ones and zeros - sad.
Listening to: Faithless - No Roots - Swingers
Conversation Tags: Facebook, social network, Ford, Jaguar
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