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You're reading: Digital Tonto: In defense of Facebook

There does seem to be something unfair going on. While most of us slave away at our Sisyphean careers, a bunch of twenty-something whiz kids become billionaires in a few short years and seem to be having a lot of fun while they’re at it. Where’s the justice?

So it’s not surprising that since the much-anticipated Facebook IPO has gone south, there has been an outpouring of schadenfreude. “I knew it all the time,” people say, thrilled that their doubts have manifested themselves ia a plummeting stock price. That’s silly and, for the most part, the criticisms are either dubious or wholly without merit.

When I was growing up in Philadelphia, the swankiest restaurant in town was Le Bec-Fin, which offered a sumptuous 9-course meal for a fixed price of $100. I remember my friend’s grandfather saying, “I understand that the food is good, but you could buy 100 Big Macs for that. How could one dinner be worth 100 Big Macs?”

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