No doubt, investors and more than a few entrepreneurs learned some hard -- though incredibly worthy -- lessons, but we needed to go through that chaotic cycle to get to where we are today. And we're in a good place.
Facebook is one of the companies that defines this place, yet the snark people direct at Mark Zuckerberg will not abate. It's another symptom of our sucky society.
Consider reaction to Facebook's big Tuesday announcement. Not only did the stock drop on the news, but the Twitterverse couldn't control itself. Twitter's gaggle of Louie CK wannabes cracked themselves up by cleverly downplaying Facebook's quite promising Knowledge Graph Search. (Everything you need to know about the event and new feature is contained in the last three links).
Listen, I was somewhat underwhelmed also, particularly because I didn't think this announcement warranted so much pomp and circumstance. Heck, TheStreet sent Chris Ciaccia all the way to Silicon Valley from Wall Street for this. The development did not deserve Apple (AAPL)-like fanfare. Save it for something truly earth-shattering.That said, it's important. TheStreet's Dana Blankenhorn does a fantastic job explaining one reason why. But, more than that, the people who take shots at Zuckerberg need to step back and accept that he accomplished more before dropping out of college than most of our families could even dream of getting done across generations. The same people whiffing at the KGS, as Dana calls it, probably would have laughed off the idea of Facebook -- and social networking -- if Zuck tipped them off to it back in Cambridge.
The dot-com era of 1999-2000, in many ways, ensured that people like Zuckerberg and Jack Dorsey could come along and change the world. Discount it all you want, but don't live in the past. Feel the present, embrace the future, stop hating and consider a position in Facebook stock. A double from Barrons' misguided price target is only the beginning. NOTE: This clip is not safe for work (NSFW), but, man, Affleck nails it. Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV