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And why would anyone participate in their IPOs? They would be crazily overvalued, like Figma or worse.

To be fair, Facebook was at the time viewed by many as crazily overvalued.

Yes, because as a company who's main features were Farmville and posting pics of your food, it was ridiculously overvalued.

But we all underestimated just how ruthless Zuck would be in turning Facebook into a machine for disseminating propaganda and invading our privacy. It has become more akin to Palantir than MySpace because that's where the money is.

I really wonder is there even enough dump money from them to sell the stock they hold. Not to mention even raising any new capital... Is there really enough bag holders that will run after these stock with large enough piles of money?

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