Investors: Do you ever get fooled at "social media and technology" conferences?

[Tolemac]

Facebook floated at 30 billion and nearly halved in value within 3 months.

Never under-estimate the stupidity and greed of the market.

In year 2000, all you needed was a website address and an overly optimistic business plan and investors would throw money at you.

In 2013, with austerity and cutbacks all over the place, investors are just looking for safe havens to protect their money against rampant inflation that is set to explode because of all the money printing going on.

The market rarely initiates growth, it always jumps on a bandwagon. Your social network guy is appealing to a market badly stung by Facebook. He may snag a few suckers but if he isn't already pulling in the bucks, I'd give him a wide berth...