Well the big day is here. Facebook will go public at $38 per share and before the day is out the stock should be selling at a much higher price. Many people will get very rich today including many angel investors in Facebook and that is a good thing for the economy. These early stage investors will have more money to help fund future companies and that will stimulate the economy. Of course the main guys at Facebook will become zillionaires and one of the creeps is already looking to skip out of the USA in order to avoid a big federal tax hit. Isn't it amazing that for some people they can never have enough money!
As for investing in Facebook I urge investors to proceed with extreme caution. The valuation being accorded this company is in my opinion way too optimistic. Facebook faces a major challenge on the advertising end of the business. Currently, mobile devices do not include Facebook advertisers. Facebook was configured as a PC oriented service and the challenge to the company is to advertise on mobile which is the fastest growing area for viewing Facebook. At some point I figure they will find some way to deal with this issue but for now I wouldn't' go near the stock.