Facebook has a tiger by the tail. Today I turned down a chance to discuss “if Facebook is the next Google” on CNBC. It’s the current fascination. Why Facebook, why now, when there are dozens of other social networks out there? I’ve heard valuations for the company that put it at past $12 billion. On $30 million in estimated earnings this year.
Wow. Get me that multiple, please! Even $6 billion is what – 200 times earnings?
It got me thinking. After all, in 2002, tons of folks were asking the same question. Why Google, why now, when there were dozens of other search engines out there?
Last time, there was an easy answer: PageRank.
Is there an easy answer this time?
I don’t see one. Do you?