We Continue to Bury the Big Facebook Stories
That was just as the media -- financial and otherwise -- was gearing up to put on their $38 rally hats. The media tends to like purely symbolic stories.
When I write or go on television I make an attempt to provide something more than the obvious. Can I come up with a different take? A peek inside what I think is really going on. Something, at least, slightly more informative and, at most, better than everybody else has. Or something otherwise provocative or compelling.
Last week I was on CNN to discuss Facebook's impressive earnings report.
This week I wrote just one story about Facebook. The standard Facebook set to return to its IPO price of $38 just over a year since going public didn't move me. About 632 other people were writing that story anyway. So I wrote the story I think matters more: Can Facebook Become the Super Bowl For Advertisers?
It made me feel good that TechMeMe, the excellent curator of tech news, chose to highlight my piece in the midst of the $38 IPO-related hoopla. I presume they felt like I did -- the $38 talk was burying what should have been the lead.
There's something inherently more compelling about the prospects of Facebook offering advertisers a platform that rivals the Super Bowl -- every single day of the week -- than a run back to $38 quite a few people saw coming. This, not the stock price, gets at the power and potential of Facebook's business.
That said, if you're going to flashback to the IPO as the stock flirts with $38 and continues its recovery, you should be talking about that security guard. That's where the human drama exists. That's where there's meaning.
With relation to companies, psychological stock price barriers mean very little. In 2011, Netflix