There’s been a whole lot of hoopla this past week about Facebook’s public stock offering. And, given the amount of money that was raised it’s certainly understandable. Our local newspaper, The Portland Press Herald tried to put it into perspective. “Facebook’s $104 billion value could go a long way in Maine. For example: • You could buy every house in Maine. • You could cover the average income for every Maine household for four years. • You could buy every lobster hauled in Maine for more than 300 years. • You could buy the annual blueberry harvest into the next millennium.”
Now, I don’t know about you, but it’s still hard for me to grasp the enormity (and sense) of it. But, then again, the stock market never really does either. After the initial offering, isn’t it just a legalized form of gambling? Aren’t subsequent investors just making a bet?
I don’t think I’m too far off given the belly aching going on now that the share values haven’t panned out the way they were supposed to. The second tier investors’ “get rich quick“ plan didn’t happen and now everyone is pointing fingers. I may get some flak for this, but my response is, “What did you expect? Didn’t we learn anything about greed and ethics in this recession?”
Until we start making decisions on beliefs and values that work for us—the big US—this sort of thing can be expected. Oh sure, we like to dream about being one of the lucky ones who makes it big. But, if we thought about what we—the big WE—could really do with this money, couldn’t we turn this recession and our future around?
Alright enough, I’ll get off my soapbox now! Do you want to get on yours?