This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Billionaires Take To Twitter To Talk Up Facebook

By Ryan Mac



On the day when the world's biggest social media company was officially unveiled as a public entity, the world's billionaires took to another form of social media to discuss the implications.

A number of billionaires headed to their Twitter accounts to discuss Facebook's initial public offering in 140-character bursts of nostalgia, reason, and even mockery.

Billionaire and Pacific Investment Management cofounder Bill Gross was quoted by his company's Twitter feed, @PIMCO, with a surprisingly sarcastic take on the whole offering.

"Gross: Go #Facebook!," read a PIMCO tweet at about 11:07 AM in New York. "I don't know how to use it but I know a Bubble when I see one!!!"

While Gross' comments will undoubtedly stoke the coals of the current Web 2.0 bubble debate, another billionaire has used the Facebook IPO as a time of reflection. AOL founder Steve Case has been tracking the company closely in the days leading up to the offering on his account @SteveCase. Presenting a stark contrast to Gross, Case tweeted: "Celebrating Facebook IPO today while reflecting on AOL IPO 20 years ago. Valuation was $70 million. Most thought Internet was a fad. #wrong."

Before congratulating Mark Zuckerberg and Sheryl Sandbergâ¿¿a future billionaire by Forbes' calculationsâ¿¿Case also quoted Winston Churchill and compared great companies to kites that "rise high against the wind, not with it."

Yesterday, business magnate and Dallas Mavericks owner Mark Cuban called Facebook's IPO as the "most important IPO to EVER hit the StockMarkets " and took to his blog to convey his perspective. Cuban believed that the interest generated by the Menlo Park, Calif.-based company going public could attract the average retail investor back to public stocks.

" If lots of individual, retail investors do buy into Facebook and they make money at it, that could lead to individual retail investors coming back into the market," he wrote in a blog post yesterday. "Something that individuals smartly have avoided for the last several years."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs