Facebook Is Doomed, BoSacks Says

There are those on Wall Street who say that Facebook will be worth $100 billion when it goes public next year, but the magazine industry's favorite pundit has a different view of the company's outlook.

"I'm prepared to predict the death of facebook. It's lost its way & in oriental terms has no face. Over-commercialism & abuse will kill it," BoSacks (AKA Bob Sacks) tweeted yesterday.

So who are you going to believe -- a bunch of greedy MBAs eager to cash in on the next big thing? (Remember when Enron was a can't miss?) Or a guy who helped found High Times magazine and then started what may be the first e-newsletter?

My money's on Bo. After all, he was a magazine production guy (you can always trust us), and he frequently quotes an obscure blog known as  Dead Tree Edition in his newsletters.

I just wonder what will happen to all the stuff people have put on their Facebook pages when that social network circles the drain. Maybe they'll be able to port it over to their Friendster accounts.