Well - if Goldman Sachs were involved - nothing would surprise me. Remind me again which bank advised the Greek Government on how to "massage" the books before submitting their entry into the Euro....wouldn't have been this bunch of bankers, would it?
Facebook is just a way of:-
1 collecting marketing information about people.
2 targeted advertising to people
3 charging businesses for accessing the people and information
In short it is just a big old fashioned mailing list, abeit one with a higher hit rate.
Putting information into Facebook is mainly wasted time imho.
S211 E320Cdi Avantgarde Estate & Toyota Land Cruiser
Suckerberg himself said this was all out allowing staff and "early investors" to cash out. He had no interest in this IPO so left it all to those who very clearly had highly vested interests. The outcome was inevitable.
Take no notice of the share prices over the next few days, all about late settling trades and short sellers covering their positions. Give it a week or two and the true value of Facebook shares will become very, very, clear.
US politicians have already jumped aboard the "How can this be?" bandwagon and the only winners will be law firms who specialty is US Securities and Regulatory issues.
The only surprising things are that (a) anyone thought they could still get away with this sort of nonsense and (b) retail investors are still idiots.