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Zuckerberg Made Instagram Deal Alone
benfrog writes "According to the Wall Street Journal, Facebook's Board of Directors was all but out of the picture when Mark Zuckerberg struck the $1 billion deal to purchase Instagram, the yet-profitless photo-sharing service. From the article: 'It was a remarkably speedy three-day path to a deal for Facebook—a young company taking pains to portray itself as blue-chip ahead of its initial public offering of stock in a few weeks that could value it at up to $100 billion. Companies generally prefer to bring in ranks of lawyers and bankers to scrutinize a deal before proceeding, a process that can eat up days or weeks. Mr. Zuckerberg ditched all that. By the time Facebook's board was brought in, the deal was all but done. The board, according to one person familiar with the matter, 'Was told, not consulted.'"
No he's giving his uni mates $1b because he can. I hope the fool gets found out and they wrap a set of bars around him. The market said "hey lets give an emotionally unstable little runt bucket loads of money" and now after they did we're supposed to be surprised when he does stupid ass shit with it?
Facebook is a worthless model as is Instagram and I know it has "ad" revenue. I'm sorry but you take the 4 biggest entities on the net into consideration and its so obvious why a bubble will begin. You have Apple. Microsoft. Google. Facebook.
Apple and Facebook can fall off the face of the earth go broke and the internet as we know it wouldn't even feel a bump. Google or Microsoft fell out of existence, well, literally one half of the internet would simply disappear while the other half wouldn't know what to do with itself. Why do lame ass businesses make the same if not more money that ones than actually keep the whole place running?
We give all this money to these useless ass businesses that DONT REALLY DO ANYTHING and we will end up worse off than 09, 01. So on....