Your exactly correct.
Imagine if FB charged the 3rd party websites .01 cent for each time a user authenticated with the FB service for their website. I would imagine an easy $1B per year right there.
The Stock generated over $100B for Facebook... Now imagine with $100B in the back what kind of company FB could aquire? A Telecom maybe? or a Cable company? They could buy another tech company like Amazon if they desired.
I think FB will morph into something other than a social networking site, just as Google morphed into something more than a Yahoo clone / search engine.
Buying FB stock right now is a bet that what they morph into is going to be successful.
“I think FB will morph into something other than a social networking site”
Good post, and you’re right. And whatever FB morphs into will likely be evil... in my opinion.
And they will, because all the young, smart people want to work there rather than, say, General Motors. What they do today is almost irrelevant, other than that they have 900 million people already favorably disposed toward their brand. The IPO price reflects what they are about to morph into.