Facebook IPO is set to create "thousands of millionaires"
That has led some to resent the site, which makes money off its users' data
Facebook tries to counter all the negativity by saying "Likers gonna like"
It’s no shock that people love to hate Facebook.
On Friday, for some, the emphasis shifted to hate as Facebook went public, turning its CEO into a billionaire and, as CNNMoney gracefully put it, making “thousands of millionaires” out of the rest of its staff and stockholders.
“Well most Americans are bitter and hateful toward anyone and anything more successful than themselves,” one commenter wrote on that story.
“Just me or anyone else really hoping for Facebook stock to take a nose dive and never come back up? I want to watch it drop like a rock,” one Twitter user wrote on the eve of Facebook’s initial public offering Thursday.
Here’s a rant from one financial analyst, spotted by Time.com, which shares a parent company with CNN and authored a recent post called “Sick of hearing about Facebook? You’re not alone.”
“But do I really need to see another article about how the Ferrari dealers in Silicon Valley have brought in extra inventory in anticipation of all the new millionaires? Or how Menlo Park and Palo Alto housing prices, which were already sky-high, are soaring even higher from all the new money?” the analyst, Tracey Ryniec, wrote.
“I can’t wait for this week to be over so we can talk about some other companies.”
Some of the venom online was directed at the Winklevoss twins, those rowing-happy Harvard kids who repeatedly have been suing for part of Facebook.
Dubbed “the Winklevii” in the film “The Social Network,” Cameron and Tyler Winklevoss are set to make millions off of Facebook’s IPO despite the fact that some courts have rejected their claims that Zuckerberg stole their idea for his blockbuster website. They could make $228 million for their 6 million shares in the company, according to a CNNMoney gallery on Facebook’s new billionaires.
At The New Yorker, Silvia Killingsworth writes that we all should give the Winklevii a bit of a break – especially since they’ve been good sports about their anti-fame:
“Sure, the Winklevii may sound a little cheesy finishing each other’s sentences – a well-enunciated mix of locker-room pep talk and well-worn entrepreneurial Web-2.0 jargon – and they will be subject to Al Gore-style Internet-invention jokes until the end of time. But who’d have known they’d be such good sportsmen about it? In the movie, Cameron gets frustrated at one point and hollers. ‘Screw it! Let’s gut the frigging nerd!’ In real life, the twins seem to have become entirely content with chasing the nerd around the courts, and collecting their cut of the biggest tech I.P.O. in history.”
Others are teasing CEO Mark Zuckerberg himself.
The comedian Andy Borowitz posted a fake letter from the 28-year-old to potential investors. It opens:
“For years, you’ve wasted your time on Facebook. Now here’s your chance to waste your money on it, too.”
It ends like this:
“One last thing: what will, I, Mark Zuckerberg, do with the $18 billion I’m expected to earn from Facebook’s IPO? Well, I’m considering buying Greece, but that would still leave me with $18 billion. LOL. Friend me, Mark”
According to The New York Times, Facebook’s new billionaires may spend their money in subtle (but still over-the-top) ways. On Thursday, the paper looked at spending culture in Silicon Valley, finding that the really rich types spend money in ways that are difficult to detect without a rich-person radar: