Is it said that? You should had bought Nokia, RIM or companies in the past like Silicon Graphics(once it started going down like crazy) or SCO.
FB is a scam to make their founders rich, a pyramid scheme in witch the money that enters is always from new people that believe are going to be rich with the "new thing"(social media), not from the real world.
FB is a billionaire business that does not know how to make money.
Good luck with those investments.
Social networks are here to stay. They fix many of the shortcomings of older ways of communicating. Facebook has shown that it’s possible to make money with that. Their current numbers are most certainly not an invalidation of the business model or service, it’s more that they might have wanted too much.
Social networks are a sound idea. Facebook has a competent implementation of a social network. Maybe it’s not enough to rule the world – but I think it’s enough to make some money and be a healthy business (though Facebook seems to want more).