Can one sue the air which may have brought the smoke from a distant fire to one's community? Can one sue a jelly fish for it being a jelly fish and being nasty to the touch, or, can one sue a stump for being a stump, after one hurts his legs and butt trying to jump over it on one's bike? Of course not. But let me drop here all pretense of faux-profundity and state it clear in the most primitive way--LOL!
Days after Facebook’s stock suffered the largest drop in Wall Street history, a shareholder sued the company, accusing the social media network of making misleading statements about its user numbers and operations. The plaintiff, James Kacouris, filed the lawsuit Friday seeking class-action status and to recover damages. Kacouris alleged that Facebook and its chief executive, Mark Zuckerberg, violated federal securities laws by misleading shareholders about the company’s number of active users and the slowing growth of its revenue. Kacouris also named Facebook chief financial officer David Wehner in the lawsuit, filed in U.S. District Court for the Southern District of New York.
Sorry guys, I have no sympathy whatsoever towards any, ahhh
Who ever thought that a so called "company", which "produces" nothing but all kinds of mental disorders for a huge global audience which is fixated on "hip" and suffers from different stages of exhibitionism syndrome, can be counted as a productive force? What kind of "investment" is that? Investing in WHAT--200 pages of code and few buildings with servers in them? But never mind, as Facebook's collapse reveals, get this:
The company’s supporters rushed to its defense, mounting impassioned proclamations that Mark Zuckerberg alone is best suited to lead a quarter of the world’s population and that only he could possibly wield the responsibility for governing what amounts to a global digital dictatorship of two billion people.
Isn't it, finally, a time to call this shit for what it is? Who the fvck is Mr. Zuckerberg? A boy with a knack for writing a software--gee-whiz, there are hundreds of thousands like him software wizards all around the globe and if FB to disappear tomorrow, in no time there will be another social network available, oh wait--there are OTHER social networks. I might not like Bill Gates, who is a typical uber-liberal shithead, but at least Microsoft, despite all of its grossly overrated products, actually produces them in terms of software. It is a product and, however coercive, it is in demand and performs some useful functions. What is useful function of Facebook?
Since when some hipsters and nerds with no serious life, academic or any other experiences (nor education) started to express their, most of the time incompetent, opinions on the whole host of serious issues be them global or community-level. What kind of business model is a Facebook? Profits? As anything in a proverbial FIRE so called "economy" it did turn out some "profits" but the end was inevitable since, even if to discount a (a)moral issue of some billionaires pontificating about things they have no clue about, when the US is being not only deindustrialized, it is losing its labor force. You know, the force which is participating in creating a serious value added--like cars, aircraft, computers, lingerie (well, most of it in China now) et al. At least one can "invest" in companies which produce value. How can one "invest" into the thin air, or, if one wishes, into nothing and expect it to remain a viable "investment"? I don't know. You bought this BS, you live with it. FB was a BS "business" from the get go but it is difficult to explain in the society fixated on being "hip" and in "trend", and suffering from dopamine addiction, and which does not understand what real productive labor is. So, FB "investors", enjoy the wipe-out of historic proportions. There is one silver-lining in all that for all of you, however, your demigod and a ruler, Mark Zuckerberg is not expected to attend food bank lines anytime soon--he made a shitload of money on idiots to worry about that.
Meanwhile, for future investment, take a look at GE which is about to sell its so called "digital" assets and is ready to get back to where this great American brand started--engines, motors and other very tangible products the demand for which will always be high. But here we are getting to a more general, metaphysical issue of a gigantic crisis of liberal financial capitalism which has completely ran itself into the ground basing its indicators on "earnings" and "profit". But that is a separate issue altogether.