Facebook valuation as it stands, currently around $33,000,000,000.
I’ve been saying Facebook’s valuation is bogus since they started getting venture capital. The idea of Facebook is not new, nor unique. It just reached critical mass, akin to AOL in the 90′s and the bust will come soon enough. People who are boosting this number up are irrational indeed.
Users have no brand loyalty. So, when the next best thing comes along, that valuation will disappear. That means that Facebook is an arbitrage position and nothing more. Get in, make your money and get the hell out of dodge.
In this case, its just going slowly because people are talking about Facebook non-stop. Not to mention that Facebook is incorporating revenue stream possibilities that others are using, which creates competition and more talk. Facebook will be around for another 10 years, at least.