Thank you for dropping in on this blog. The Social Networking Bubble is my second blog on WordPress. My primary blog, Contemplating the Human Direction, is more broad and philosophical in nature. Although The Social Networking Bubble is focused on what I believe to be the next major stock market fraud and scam, there will be some philosophical and broad posts that tie this event to broader topics.
I believe the social networking sector is yet another scam, Ponzi scheme, rip off, or fraud, which is being performed before us by the same actors responsible for the Dot Com bomb and the housing derivative debacle. These crooks or shysters include venture capital firms, founders and high-level management of the companies involved, investment bankers or Wall Street, and some powerful forces in the media.
My purpose is to track the evolution of the Social Networking sector as more companies go public this year and to provide insight into the scam. I will source and pull in articles written by quality authors that make good arguments regardless of their pro or con position on the Social Networking sector. But, I will also call out or criticize those that appear to be printing mere propaganda to exploit the public to further fuel the fraud.
I could end up being totally wrong and that would be a pleasant and humorous outcome, but if I am right we will see a few crooks get excessively rich at the expense of the public. And I will highlight who those individuals and entities are by tracking their stock positions and rhetoric before and after the bubble bursts — if indeed a bubble forms and pops.