Yes. Because clearly being the 25th most popular site in the US has no value.
No-one's disputing that Facebook are beating MySpace, but saying they're worthless is like saying Pepsi are worthless because they're not Coke.
At the revenue levels they're at and at the size of their employee base, they could easily cut costs and make back that 327 million in a single year (at the cost of long term growth). Regardless if you think they're worth 1 billion or 5 billion, they're clearly worth more than worth Murdoch paid for it.
He could sell tomorrow for the price he paid for it and have private equity buyers bite his hand off.
No-one's disputing that Facebook are beating MySpace, but saying they're worthless is like saying Pepsi are worthless because they're not Coke.
At the revenue levels they're at and at the size of their employee base, they could easily cut costs and make back that 327 million in a single year (at the cost of long term growth). Regardless if you think they're worth 1 billion or 5 billion, they're clearly worth more than worth Murdoch paid for it.
He could sell tomorrow for the price he paid for it and have private equity buyers bite his hand off.