Overpriced Bullshit in Tech

Are you guys f*cking kidding me? I vividly remember when Facebook was going public. I assumed that anyone with half a brain would see that the valuation was just silly if not anything else. I mean come on, when did a businesses projected profits become the major factor in it’s costing? But I let that slide, Facebook is VERY BIG. There is a chance some of these sorry excuse for investors might recoup their money. In my opinion they should have waited for a few days or weeks after the IPO, but we aren’t here to talk about the past.

Instagram was the next in line with it’s $1billion valuation by Facebook. Now don’t get me wrong I think as far as photosharing apps go Instagram is great (for the young and bored show offs hunting for random likes and follows), but at a billion dollars before it can even be monetized? NO, just no! As of this week Yahoo has been reported to be in talks with just about everyone for acquisition. Techcrunch is reporting Path to be asking for $2billion and Foursquare wants $800 million. I mean you got to be kidding me right? I downloaded Path a very long time ago and I think I have only used it once! And is anyone still checking-in on Foursquare? I swear they pivot every two weeks to change the face of the company and function of the product. These companies are not even profitable so how are they asking for all this cash? And who are the investors buying into these figures?

Clearly no one has learned anything from the dot.com bubble and the death of myspace. If investors are that desperate to throw away some money how about they focus on seed stage funding or even hand it out to charity. And what the hell are these companies doing with all the funding they receive? Seems like a bunch of over staffed and over furnished offices burning through money. I mean how many people do you really need to develop and manage these businesses? A regulatory body or something needs to come up to stop this madness. It’s already out of hand….Path for 2 billion? Don’t make me laugh!

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