This is a bad take. At least pretend to look at their financials if you're going to make this argument. I'll help:
Facebook has $30 billion in cash and essentially no debt. The equity value of $30 billion in cash is.. $30 billion. So it's clear that they're worth at least $30 billion. On top of that they're generating ~$4 billion / quarter in net income. The equity value of net income is roughly Net income x (1 - Tax Rate), so call it $3 billion/quarter. Discount as you'd like for them to be worthless someday, but in the mean time they have a ton of cash and are printing a ton of cash.
I bet if you run the numbers and assuming a decent growth rate, you'll come to a total market cap of ~$420 billion. Efficient markets and all that..
Facebook has $30 billion in cash and essentially no debt. The equity value of $30 billion in cash is.. $30 billion. So it's clear that they're worth at least $30 billion. On top of that they're generating ~$4 billion / quarter in net income. The equity value of net income is roughly Net income x (1 - Tax Rate), so call it $3 billion/quarter. Discount as you'd like for them to be worthless someday, but in the mean time they have a ton of cash and are printing a ton of cash.
I bet if you run the numbers and assuming a decent growth rate, you'll come to a total market cap of ~$420 billion. Efficient markets and all that..