How much is facebook really worth and investment strategy

Frankly, I don't really buy the notion that facebook is worth billions of dollars, based on the Microsoft's 240 Million invement for 1.6 percent of the company stake. It is just stupid for Microsoft to do so.

My issue is not that facebook is fad, which could well be. A year ago, maybe 2 years, Myspace is the king of the social networking. Now, it seems it is no longer cool, at least in the US market. Online market changes quickly and Microsoft is trying to pick the gold. Yet, in the California gold rush, levis makes the money. Levis' jean is the today's online infrascture and infrascture and technologies.

The investment strategy for online properties should be: Invest in the best technology company, as soon as a viable business model is clearly applicable.

Otherwise, you are chasing the gold in hope you are at the right place at the right time. And Once you got your gold, noone will take it a way.