As someone who sees value in at least some social networking sites, I’m more than a little uncomfortable with all the attention that Wall Street suddenly is directing toward this sector. For the past few weeks, we’ve been bombarded with stories about the potential for various social networking companies to raise ridiculous sums of money in public stock offerings. Naturally, Facebook, the undisputed ruler of the social networking realm, has garnered the most headlines, along with the highest estimated valuation at $50 billion.
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I Don't Want Wall Street in My Social Network
Posted by: Sidney Hill January 19, 2011 05:00 AMAs someone who sees value in at least some social networking sites, I’m more than a little uncomfortable with all the attention that Wall Street suddenly is directing toward this sector. For the past few weeks, we’ve been bombarded with stories about the potential for various social networking companies to raise ridiculous sums of money in public stock offerings. Naturally, Facebook, the undisputed ruler of the social networking realm, has garnered the most headlines, along with the highest estimated valuation at $50 billion.