Mark Zuckerberg is Time's Man of the Year, the movie about him seems likely to be an Oscar winner, and now Goldman Sachs is raising $1.5 billion from its favorite investors on behalf of the social networking company.
At the very same moment, Facebook's only real competitor --NewsCorps' waning social networking site, MySpace -- is shedding employees and expenses, most likely in hopes of a fire sale.
But appearances can be deceiving. In fact, as I read the situation, we are witnessing the beginning of the end of Facebook. These aren't the symptoms of a company that is winning, but one that is cashing out.
Indeed, 11 years ago this week, when AOL announced its $350 billion merger with Time Warner, I was asked to write an OpEd for the New York Times explaining.....
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