NEW YORK ( TheStreet) -- In our sometimes sucky society, there's no better case study in the tendency to blame external forces for our mistakes and shortcomings than the dysfunctional relationship between large swaths of the public and Facebook ( FB).We've got endless examples:
- You're a retail investor. You chased the IPO because you have a Facebook page. Even though you have nobody to blame but yourself, you (and the media) blamed everybody except the person who hit 'BUY' for your losses. Back in May 2012, while predicting long-term success for Facebook stock, I said Do not buy the IPO. That's almost always sound advice. Take it.
- You're Mark Cuban, a wildly successful and otherwise brilliant man, yet you dog Facebook for structuring its advertising like TV and radio. Pay more as the size of the audience you reach increases. Novel idea.
- You're General Motors (GM). Unlike Ford (F), you have no clue how to properly use social media to market your company, yet you blame Facebook, exonerating your own ineptness in the process.
"You just can't buy your way into Facebook," said Ford spokesman Scott Monty. "You need to have a credible presence and be doing innovative things." More than 20% of Ford's marketing budget is spent on digital and social media.Right on, brother. Facebook advertising works for individuals and companies who not only know how to use social, but why they're using it in the first place. You don't use Facebook to sell widgets; you use it to get in front of people who like what you do as well as the ones who have no idea that you exist. So, if you're looking at the stock, don't let the Facebook might not be an effective advertising platform meme keep you away. It is. I know this firsthand. Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.