Aer Lingus From Ireland, joined Mar 2001, 529 posts, RR: 4 Posted (5 years 1 month 3 days 18 hours ago) and read 5703 times:
Just got a message from a friend saying that Facebook will be no more on March 15th 2011.
I don't know if the source is trustworthy but it seems Facebook will be shut on March 15th.
After finding some of my old classmates recently in Facebook, after so many years some of them had moved to a different country and the best way to keep contact with them is by Facebook. I hope the story is not true because if Facebook really shuts down, loads of people will lose contacts.
While Facebook is worth billions, would there be a buyout from someone to save it?
Saving Facebook would mean that we won't lose contact with families, colleagues, friends, classmates.
Thanks for the quick replies and the links! As I already said on the post I don't know if the source is trustworthy. After seeing the source my friend gave me. I felt it was strange for something which worth billions to shut down. Now everything seems to be clear. Thanks guys for your help!
This is the website of an infamous trashy tabloid magazine filled with all sorts of rubbish disguised as "news". In some ways, it is "The Onion" taken to the extreme (although Weekly World News predates that publication by about 9 years).
I wonder how many times that link will get posted on Facebook today...... If any of my friends post it, I've got the Snopes link ready to go.
Quoting skidmarks (Reply 4): Does anyone keep count of the times this sort of rumour surfaces? it become a new hobby - Facebook Rumour Spotting!
Usually it's stuff like Facebook is about to start charging $X/a month to use the site or Facebook is removing a popular game from the site.
Quoting hka098 (Reply 11): Wouldn't be surprised if they went public in March.
There is no reason for the people owning most of Facebook to sell, or go public.
The company is making a lot of money, and paying nice bonuses to the owners and investors.
The founder and his key management team have been very up front that they do not want to change jobs. Because when a company goes public, the CEO and top management job is no longer innovating and running a top flight technology company. Their job changes to working to keep shareholders and investment analysts happy.
hka098 From United States of America, joined Oct 2010, 556 posts, RR: 0
Reply 14, posted (5 years 1 month 3 days 17 hours ago) and read 5380 times:
Quoting rfields5421 (Reply 13): Their job changes to working to keep shareholders and investment analysts happy.
Which is the most curious part. A company that prides itself on connecting people and being open wants to keep the books quiet. Sooner or later the SEC is going to want to take a look. I am glad that I am not heavily vested in Facebook.
luv2fly From United States of America, joined May 2003, 12341 posts, RR: 44
Reply 15, posted (5 years 1 month 3 days 16 hours ago) and read 5351 times:
Quoting hka098 (Reply 14): Which is the most curious part. A company that prides itself on connecting people and being open wants to keep the books quiet. Sooner or later the SEC is going to want to take a look. I am glad that I am not heavily vested in Facebook.
You do know that Facebook is a "private" company and the SEC has nothing to do with it.
rfields5421 From United States of America, joined Jul 2007, 7804 posts, RR: 32
Reply 21, posted (5 years 1 month 3 days 16 hours ago) and read 5296 times:
Quoting hka098 (Reply 17): being private exempts them from any kind of regulation?
No - only from the financial oversight of the Securities and Exchange Commission.
They still have to comply with any other government regulation - i.e.: wage and hour, safety (OHSA), environmental, etc.
Private companies are a small but substantial part of the economy. Their financial situation and communication with their owners is not subject to regulation. But they are also restricted from a great number of activities, and sources of funds to grow, expand.
Thanks for the info. I wonder if Goldmann Sachs were not such a large investor would Facebook consider going public? Besides, what about the talent behind Facebook? Many of the staff there left good-paying jobs at Google, Microsoft to join Facebook and get in on the IPO. If that doesn't happen, they may walk taking their expertise with them.
type-rated From , joined Dec 1969, posts, RR:
Reply 23, posted (5 years 1 month 3 days 14 hours ago) and read 5137 times:
Quoting EMBQA (Reply 19): There actual value is near zero. They provide a free service and the only income comes from advertising
and selling all your demographic and location data to anyone who wants to use it for any purpose, as long as they pay.
Once you are on Facebook all your browsing information is tracked by them. They know what websites you look at and how often you look at them. It's a complete invasion of privacy.
Ever try to remove yourself from Facebook? Ha! Two weeks? Give me a break.