????因此，F(xiàn)acebook不再堅(jiān)持私營模式，開始到公開市場籌集盡可能多的資金。如今，該股股價(jià)僅及發(fā)行價(jià)的一半，而且存在進(jìn)一步走低的風(fēng)險(xiǎn)，因?yàn)閱T工們可能都會效法公司董事彼得?泰爾的做法，盡可能地套現(xiàn)。這種事真是令人遺憾，完全是本末倒置，因?yàn)樾匠旰推髽I(yè)治理問題主導(dǎo)了論戰(zhàn)。Facebook擁有很出色的業(yè)務(wù)，它的市值超過了400億美元。但沒人想談這個(gè)。沒勁。

????亞當(dāng)?拉辛斯基早在七年前就第一次寫到Facebook，當(dāng)時(shí)他與馬克?扎克伯格探討了該公司的估值以及其他秘密話題。

????So instead of staying private, the option Facebook swore it wanted to pursue, the company went for the most money it could raise. Today, its shares are worth half their offering price and threaten to go lower as employees prepare to dump whatever they can, following the example of one of the company's own directors, Peter Thiel. It's a sorry state of affairs when the tail wags the dog such that compensation and corporate governance matters dominate the discussion. Facebook has a pretty cool business -- and a $40-billion-plus market value. But nobody wants to talk about that. Yawn.

????Adam Lashinsky first wrote about Facebook nearly seven years ago, when he discussed the company's valuation, among other esoteric subjects, with Mark Zuckerberg.