Warren Buffet Says Social Networking Sites Are Overpriced
Warren Buffet is well known for being a financial realist, and he is noto afraid to call a bubble when he sees one. He recently expressed his view on social networking sites, saying that most but not all are overpriced by the market.
The 'Oracle of Omaha', who is famous for his approach to valuing companies, said that it is extremely difficult to value social networking companies. He admitted that some of them will be huge winners, which will make up for the majority that are not. He didn't name any names, but it is likely that the top management at Facebook, Twitter, and Groupon will know exactly who Buffet is targeting his remarks at. Some argue that a 'reality check' is due in the space, given the recent market valuations of these three brands, with Facebook being the highest at over $65 billion.
We want more from Social networking enabled sites than association. If we’re going to invest our time into a Social networking site, make it worth our while. Make it a game, make it entertaining, make it useful – but don’t expect us to come if you think its enough to browse our friends profiles.
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