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If the stock had "popped" to a truly ludicrous level on IPO day, millions of investors would likely have piled into it, hoping for further gains. And then, eventually, the hype would have faded, and these investors would have gotten creamed as the stock fell back to a more reasonable price. As it was, Facebook's IPO price was not truly ludicrous--it was just extremely expensive. The "extremely expensive" part was why I called Facebook "muppet bait." And it was why I kept asking giddy IPO buyers what they were seeing that I wasn't .
What Is Facebook Worth?
Always On Real-Time Access » US Mobile Data Market Update Q3 2010
The Missing Manual for the Future » Article » OWNI.eu, Digital Journalism
Tim O’Reilly’s Four Cylinder Innovation Engine O’Reilly Media, is famous for is producing “missing manuals” for new technologies, but thinking of O’Reilly as just a publisher of books would be like saying Facebook is just a website (this came up in the discussion at Media Round Table at Web 2.0 Expo, NY, 2010) . In recent weeks, I managed to catch Tim O’Reilly at several events, Maker Faire , Web 2.0 Expo , Hadoop World , and the free webcast Tim did with John Battelle on The Battle for the Internet Economy (although Tim spoke several other times during this period!). It occurred to me, as I immersed myself in the depth and breadth of innovation showcased and discussed at these events that Tim O’Reilly, and the O’Reilly team, are creating The Missing Manual for the Future . As Tim puts it, we are “changing the world by spreading the knowledge of innovators.” Tim uses a quote from William Gibson to illuminate what is at the heart of the O’Reilly project :This article is updated. If you are reading this in 2011, please see the new how to build a perfect Facebook page article . This is a guest post by Jesse Stay , founder and CEO of SocialToo.com and all around great Facebook Fan Page coder. He’s volunteered to give away a copy of his recent book, FBML Essentials , to two readers. Scroll down to the end of the post for details on how to win.

