Facebook is given information by over 500 million users, from many who are unaware, and even more who just don’t care.
Facebook shareholders are celebrating every time you update “your” page with not just what, when, how, or even why you are doing something, but how you feel in relation to the update.
Your information is bringing in revenue for Facebook and company. It has a value and yet you are not seeing a tangible in return.
This is a virtual meeting place where artificial human transactions can be conducted for free is better than U.S. currency.
Most people are happy with this Facebook offering, a user-friendly network that sacrifices the depth and substance of human transaction for the ease and convenience of staying connected to multiple people around the world.
If you wanted more than just an account, say access to shares of Facebook, you will have to be patient.
Facebook is a privately owned company and the CEO, Mark Zuckerberg intends to maintain absolute control and keep the company private.
Facebook is not alone in this effort to remain a private company.
The $450 million investments made by Goldman Sachs helped delay an Initial Public Offering (IPO) by Facebook until at least 2012.
“In a rare move, Goldman is planning to create a ‘special purpose vehicle’ to allow its high-net-worth clients to invest in Facebook.”
This is what makes the partnership between Facebook and Goldman Sachs controversial, according to the Fortune website.
“While the Securities and Exchange Commissions (SEC) requires companies with more than 499 investors to disclose their financial results to the public, Goldman’s proposed special purpose vehicles may be able to get around such a rule because it would be managed by Goldman and considered just one investor, even though it could conceivably be pulling investments from thousands of clients,” as reported by Dealbook/New York Times.
If it is being recommended to Facebook or if the company is planning to attempt circumvention of the SEC guidelines for financial disclosure, that will send a bad message about how the two companies do business.
Be concerned, not because powerful, wealthy companies are pursuing more power and wealth, but because of how they are pursuing this power and wealth.
Many people that commented on various articles related to this business partnership suggested temporarily or even permanently deleting your Facebook account as a way to send a message.
Then encourage your friends and family to do the same. It is not enough to provide you with a nice interface to stay connected when these companies who are making actual money in a society that is impacting the same millions of users.
