Mark Zuckerberg, the creater of Facebook is considered own of the worlds youngest billionaires. When Facebook was valued at $23 billion, Zuckerberg was worth about $6.9 billion. Now he's worth an estimated $14 billion. A $500 million investment from certain people show that Facebook has potential to make money in online social networking system. This $500 million dollar investment along with others makes Facebook worth about $50 billion. Yet with all of the money going into it, Facebook wants to keep its books private and not have to cater to the demands of the market.
I don't really understand how a website can be worth so much money. Sure millions upon millions of people use Facebook, but do we really need to make it worth $50 billion? We could invest our money in something to help the environment or to help end world hunger. Instead, we spend our money on a social networking site that doesn't really protect its users' privacy. Facebook needs to work harder to protect individual rights instead of worrying about keeping it's own books privacy. They want to work around laws so they do not have to show the public all of their dirty laundry. I am not sure about Facebook going public because with so many people using it, it could be dangerous to let information out.
No comments:
Post a Comment