[Evan]

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OP I dont know why you would think one company valued at 2-3x revenues might be the start of another bubble.

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Because revenues aren't inherently worth anything. If they're cashflow negative with 500 mil in revenue who the hell cares?

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I'm curious how it's even possible to spend $500M operating facebook.

eastbay

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I don't have a clue. My guess is that the 500 mil is an annualized number based on last month's revenue and projected growth, if there's even any truth to it at all.