Bloomberg reports that a poll of global investors reveals that 69% of them think that Facebook is overvalued. Just 10% thought it was “properly valued” (and 4% thought it undervalued), while 17% had “no idea.” Bloomberg conducted the poll over the past weekend, and revealed the results yesterday. One of the poll respondents, John J. Lee of PGB Trust & Investments, minced no words talking to Bloomberg: “Those investing in Facebook, expecting it to be the next Google, might be in for some bad news along the way. Eventually, all fads get cheaper copycat lookalikes. While being first to market makes Facebook a winner, another faster, stronger company with more something will come along and dilute its value.”
The elite has become obsessed with fixing public schools. Whether it’s Ivy League graduates flocking to Teach for America or new-money foundations such as Gates, Broad, and Walton bestowing billions on the cause, “for the under-40 set, education reform is what feeding kids in Africa was in 1980,” Newark, New Jersey, education reformer Derrell Bradford told the Associated Press last fall.
Facebook founder Mark Zuckerberg is the latest entrepreneur to join this rush. He announced in late September that he planned to donate $100 million to the city of Newark to overhaul its school system.
In our February issue, we examine 13 Radical Ideas on How To Spend 100 Million to Really Save Education.