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Company now from Boston is Scottish -- -- whole on that he's with granite investment -- If I'm not mistaken -- use believe that this is a rotten investment don't touch it with a ten foot poll is that correct.
I think -- is a little bit of a stretch to after the.
We what we do -- when we look at any company the first question is is -- a good company.
The second question then is is it properly managed in the third question is finally prize so is FaceBook a good company absolutely it's -- 900 plus million users.
Is it properly manage yes Mark Zuckerberg took this from nothing into into what it is right now the final pieces priced -- story really get hung up.
And that simply is we're now trading about going to be trading at a hundred plus times earnings was very 25 times revenue -- -- -- -- -- good news is baked into this and -- Some of the -- some of the reasons I'm hearing from people buying it even though.
I've heard that you just defies conventional valuation metrics -- this sounds eerily reminiscent to what people were saying in the late ninety's about some of the -- -- Let me arrogant -- -- -- second but has yet I take your point.
Because it's such a brand new industry -- social network industry it's hard to know what to make of it in the future I -- could be passing fad can be superseded any time I like AOL for example but on the other hand ready complete the new platform.
For all kinds of all the businesses which feed money into FaceBook.
That's something we don't know it highly speculative and is it.
That's -- really you hit the nail on the head of speculative.
You can't justify -- on today's price so really what you're doing is you're going out into the future as saying in the future it will be that so we are speculating what I -- curious -- -- you have it.
Investors in this country individual investors that are pulling money out of equities because they're afraid of risk of equities.
Yet they're happy to put money into something -- that's very spectrum than a hundred times earnings.
It just seems a very inconsistent with some B Abrams and because people think it's the next Google -- -- that's what they're looking at last what they think.
It could be the next school bullet could be the next Global Crossing very hard to -- OK any other -- we appreciate it didn't mention with the women everyone thinks they were a yet gov does go ahead almost -- one other thing bear in mind that bear in mind that FaceBook isn't the first one in the space.
We have MySpace we have Friendster before this they don't exist anymore so there is Rix risk of product obsolescence.
So we appreciate being -- as we like -- input thank you very much and dates of pregnant.
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