Monday, January 10, 2011

Facebook Shutting Down Rumor Goes Viral: Site Said To Be Ending March 15, 2011

Unlike any other multi-billion dollar business in history, the fact is, if people wanted to they could shut facebook down forever in a day

MK: I wonder if in the offering memorandum circulating for new Facebook investors if this potential risk is disclosed. It’s an interesting concept, several hundred million users could hit, ‘delete my account’ on that day and the valuation of the company would go from 50 billion to zero in a heartbeat (maybe not zero as the company would still use your personal data even though you deleted yourself). I think Enron lost 80 billion in a day when it was disclosed suddenly that they had about 80 billion in debts ‘off balance sheet’ (remember Arthur Anderson?). So it wouldn’t be the biggest one day loss . . . and now that I think of it, maybe LTCM suffered a one day wipeout of 1/2 trillion (Greenspan had to drop rates on your grannies retirement account to bail them out). But it would be the most unexpected for sure.

from MAXKEISER.COM, HuffPost

No comments:

Post a Comment