RAPID RESPONSES
Facebook’s trials
[Re: Is Facebook’s estimated market value excessively high?, Tuesday]
Facebook is often compared to Microsoft. They’re both hugely successful companies that tens of millions use, but which few really love (in contrast to Apple). Facebook has shown impressive growth in revenues and profitability, but to become a $100bn company it must face two challenges more successfully than Microsoft did. It must navigate the move from the traditional web to mobile devices better than Microsoft handled the birth of the web. It must also deal with regulatory challenges, like privacy and data protection laws. If Facebook can achieve this, it will deserve its $100bn valuation. But I’ll believe it when I see it.
John Halton, partner at Cripps Harries Hall
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Socialist substitute
[Re: Folly which crippled Greece will be repeated in socialist France, Tuesday]
I agree that votes against Nicolas Sarkozy were personal. The French were fed up with him. But, like it or not, there is also now a strong belief in Europe that finance and economic liberalism will not improve peoples’ way of life. Many French people believe that Francois Hollande’s speeches and action will be dedicated to them as much as to the market. Although the margin for the Socialists to act differently is very thin, and Hollande will likely benefit from reforms made under Sarkozy (without acknowledging this), his victory is a sign that many Europeans are craving an end to austerity and a new economic approach.
Sebastien Boule
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TOP TWEETS
One problem with these bailouts is they risk turning Spain into Ireland. They should impose bailins, not do bailouts.
@AndrewLilico
Euro sinking, Spanish, French and Greek bond yields rising, and our leaders appear to be operating in a dreamland.
@davidcshipley
Clinton Card’s administration is creative destruction. Nothing else.
@DoubleEph
Nothing in the Queen’s Speech on recall of MPs or lobbying. Is the coalition agreement in tatters?
@SadiqKhan