Broadstuff’s take on the The Guardian coverage on Facebook being valued at more than $33bn (£21.3bn) as investors try to secure a stake in the social networking site in anticipation of its flotation on the US stock market:

But in The Old Days you got pre-flotation shares at pre-flotation prices, not at a secondary market price driven by scarcity and speculation. Another notch on the post for flat earth news it would seem perhaps? Those who cannot remember the past…

I’m not sure if this is really a Internet-wide dot.com-like bubble symptom, although such a strong confidence in advertisement as the universal source of revenue doesn’t smell good. Completely agree that this kind of reporting does not help.