Facebook - Passing Fad or Here to Stay?
Is Facebook a passing fad, destined to go the same way as the Rubiks cube and the hula hoop, or will it still be going strong 20 or 30 years from now?
As Facebook stocks hit the market Friday in one of the biggest initial public offerings ever, some investors were a little hesitant to put too much credence in the company’s sustainability. Forbes reported that General Motors pulled its $10 million advertising investment on Facebook just before the launch of the IPO, saying the ads were ineffective and didn’t warrant the expense.
More concerning for people considering buying up shares that launched at $38 a share, however, was whether or not Facebook would still be around 20 or 30 years from now. CNBC reported that a CNBC/AP poll conducted from May 3 – 7 among 1,004 people found that 50 percent thought Facebook was a passing fad.