[jaredsohn]

>tanked their stock price right after their IPO

Why is this relevant? The VCs made plenty of money and even though the price is less than asked for, a social network just got validated as worth over $60 billion on a public market.

There may still be issues with creating a new social network, but I don't think FB's IPO price tanking is one of them. (Unless success requires a $100 billion exit.)

[alttab]

It shows the lack of appetite from consumers for social networking companies. Sure, the investors for Facebook got rich, but will then next ones? The post IPO stock price would suggest that the next party won't be as big.