The Facebook Massacre

I am mildly surprised that Facebook has dropped so far so fast.

Although I thought the Facebook IPO valuation was a cruel and stupid joke, and I predicted that it would dive, I really didn't think it would happen this quickly or dramatically.

As I write this, the value of Facebook shares has dropped almost 30% in two weeks. At a putative value of $100 billion, that's a loss of $30 billion in

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