First, I don’t get Facebook, to me it’s just a site where people who don’t have a life try to pretend the do… but even if you are “into” Facebook, I’m not sure why anyone would have  invested in the Facebook IPO… let’s look at the ethics of Mark Zuckerberg (co-founder of Facebook).

The predecessor to Facebook, Facemash was populated with pictures that Zuckerberg obtained by hacking into system that had private dormitory ID image… something that should have gotten him expelled from Harvard, or thrown in jail.

Then, he went on to launch Thefacebook, and he did that by misleading a three other students into helping him build it.  Then Zuckerberg refused to give them a share of what they’d worked on, until the three filed a lawsuit (it was settled out of court).

So with a person like that at the helm of Facebook, why would we be the list bit surprised that they may have overstated their value and may have only disclosed their actual valuation to large investors (we’ll have to wait for the SEC investigation to finish to know what actually happened).

And yet millions and millions of people “trust” Facebook with their personal and confidential information — even though Facebook doesn’t really provide any controls over how that information might be used.

My advice, dump Facebook now.  Whether we’re talking about the stock you may have been conned into purchasing or the social network your use makes a very few people very wealthy off of.

Originally posted 2012-05-29 02:00:47.