As I predicted before it went public, then again in June and again two weeks ago the Facebook massacre continues. Some Facebook shares became "unlocked" yesterday and the stock dropped about 6%, reaching a new low, closing below $20.
There are over 1 billion more shares still to be "unlocked" before year's end. This could get really ugly.
Update: Facebook seems to be in free fall, dropping another 4% today.
To my Charming and Loyal readers:
As you may know, I have been having a nightmare with my 3rd-party commenting system. I have gotten rid of it and have reverted to my old system. I'm sure this will create enormous new problems, but what the hell can I do? I am going to try to convert to the Blogger native commenting system as soon as I can. Please be patient and I'm sorry for the millions of comments I have lost. TAC
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"Sometimes success in the advertising business requires sitting quietly and letting clients proceed with their hysterical delusions."
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"Marketers habitually overestimate the attraction of new things and underestimate the power of traditional consumer behavior."
"We don’t get them to try our product by convincing them to love our brand. We get them to love our brand by convincing them to try our product."
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"Creative people make the ads. Everyone else makes the arrangements."
"Delusional thinking isn't just acceptable in marketing today -- it's mandatory."
"Shakespeare was a storyteller. You're a copywriter."
"Good ads appeal to us as consumers. Great ads appeal to us as humans."
"As an ad medium, the web is a much better yellow pages and a much worse television."
"Sometimes success in the advertising business requires sitting quietly and letting clients proceed with their hysterical delusions."
"Marketers prefer precise answers that are wrong to imprecise answers that are right."
"Brand studies last for months, cost hundreds of thousands of dollars, and generally have less impact on business than cleaning the drapes."
"The idea that the same consumer who was frantically clicking her TV remote to escape from advertising was going to merrily click her mouse to interact with it is going to go down as one of the great advertising delusions of all time."
"Nobody really knows what "creativity" is. Every year thousands of people take a pilgrimage to find out. This involves flying to Cannes, snorting cocaine, and having sex with smokers."
"Marketers habitually overestimate the attraction of new things and underestimate the power of traditional consumer behavior."
"We don’t get them to try our product by convincing them to love our brand. We get them to love our brand by convincing them to try our product."
"In American business, there is nothing stupider than the previous generation of management."
"If the message is right, who cares what screen people see it on? If the message is wrong, what difference does it make?"
"The only form of product information on the planet less trustworthy than advertising is the shrill ravings of web maniacs."
"There's no bigger sucker than a gullible marketer convinced he's missing a trend."
"All ad campaigns are branding campaigns. Whether you intend it to be a branding campaign is irrelevant. It will create an impression of your brand regardless of your intent."
"Nobody ever got famous predicting that things would stay pretty much the same."
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