Facebook: Dead On Arrival For Investors?

| About: Facebook (FB)

I am usually not negative on many things at all. I tend to look for the positives, the potentials, and the good. That is true in the world of humans, as well as the world of stocks.

Now that we know that Facebook will be going public soon (read this WSJ article), we can all cheer the market gurus who have been touting this IPO almost from its inception.

At one time, I actually liked Facebook. Especially when I became sick and tired of MySpace. Facebook was glorious back then. It was neat, clean, safe, and the folks on it were civil, and they behaved better (well, at least my friend list anyway). There were few, if any advertisements, it was actually useful.

All of that has changed. Facebook has become another vast wasteland of wasted time, wasted opportunity, and lost potential. I am also not even smart enough to know what the actual potential of these social media sites are, but I do know when I really cannot stand it anymore.

The site itself has turned into a confused jumbled mess, with advertisements all over it, people asking for friendships that come from out of the blue, girls with video websites baring their "all" and a parking lot for Zynga (NASDAQ:ZNGA) games!

Does any of this sound familiar to anyone?

The older version of Facebook, MySpace, is dead and virtually buried now. Thanks to the impact of the original Facebook. At this stage, I would be hard pressed to tell you the differences. Oh, I am sure there are, I mean after all, they will have an initial valuation of 100 billion dollars right? (The same size as McDonald's (NYSE:MCD)).

Facebook will become the largest internet company IPO ever, at 10 billion bucks; five times larger than Google (NASDAQ:GOOG), and the 4th largest U.S. IPO in history behind Visa (NYSE:V), General Motors (NYSE:GM) and AT&T (NYSE:T).

Pretty good neighbors to hang with, dont'cha think?

There is one huge difference though. Facebook, in my very own tiny humble opinion, is dead on arrival for investors.

The product is not the same as what Mark Zuckerberg originally developed from my personal standpoint. To me it has lost its soul, its heart, and the only ones who will make money on this are Morgan Stanley (NYSE:MS) or Goldman Sachs (NYSE:GS), in my opinion.

Now let me say this; Facebook can become the best stock on the planet and I can be completely wrong about my opinion here. I have no crystal ball, just my opinion and why I have this opinion- that's it.

Buy shares at your own risk, which I believe is great.

Disclosure: I am long T.