Well, it’s hard to see Facebook as anything other than a fad. There really isn’t much going on except constant reminders of other people’s activities which, honestly, aren’t all that interesting. Some businesses use Facebook to keep subscribed customers informed of their promotions, like a newsletter, but I’m not sure that Facebook is any more effective than similar business efforts through other media. This whole Facebook IPO was way overhyped.
I agree that it is an obvious fad. 20 years from now, FB will be in the same discussions with Pet Rocks. On another thread I mentioned that this might be the actual first stock that I short. Wish I had done it at $45/share :)