Yawn… The Facebook IPO (insider profit opportunity rather than Initial Public Offering) finally came and went. Much like its 900 million members, Facebook executives managed to garner enough fleeting “likes” from its Wall Street road show to ensure temporary short-term hype and big returns for key insiders. But, beneath the hyperbole lies a basic question that goes to the heart of its stratospheric valuation: Does Facebook have a long-term strategy beyond the rapidly deflating ad revenue model? From Technology Review: Facebook is not only on course to go bust, but will take the rest of the ad-supported Web with it. Given its vast cash reserves and the glacial pace of business reckonings, that will sound hyperbolic. But that doesn’t mean it isn’t true. At the heart of the Internet business is one of the great business fallacies of our time: that the Web, with all its targeting abilities, can be a more efficient, and hence more profitable, advertising medium than… Read more