[wdr1]

> As a geek , I fully grasp Facebook's 12.24 pages/visit stat. Even Reddit is just a hair below, at 10.6. (source: Alexa). That type of engagement is insanely hard to get for a site as big as Facebook. Investors do not look at these things because they do not understand what they mean. They look at traditional investor metrics.

I think they grasp it. The reality is when it comes to financial matters, engagement isn't the only (or even most important) metric. In fact, it doesn't matter squat if you can't monetize it. And that's exactly the stumbling block FB has run into.

You can retort engagement is important because it's a sign of a happy user & monetization shouldn't matter. Which is fine, but then the stock price shouldn't matter either.