Facebook is not worth $33B (2010)

In light of all the skepticism around the current AI bubble, I figured this post by DHH was interesting: a lot of skepticism back then around Facebook’s valuation, and how it could ever become profitable if it already has half a billion of users yet still is churning through huge chunks of money.

I don’t know how the current AI bubble will work out, but what I do know is that I’m often wrong when it comes to these types of predictions. People are currently calling out OpenAI for Sora 2 (“if an AI slop clone of TikTok is the best they can do…”, but who knows what the future holds?), so I thought this would be relevant.