Facebook filed their Ipo today and the street and media are hyping it up something awful. Their are projecting a huge run up in price and getting the whole world enticed to buying shares of the sociual media site. However, there are quite a few reasons to be wary of Ipo stocks, especially this one. Facebook gets almost 12 percent of it's revenue from the online gaming company Zynga, Zynga recently was an Ipo themselves and their shares can be had for $10. Not many people want a company whose revenue slice is from online games. Facebook has yet to seal a true revenue source other than the tried methods like every other website, ads. While it is true Facebook has the crowd and site traffic now, what happens when it all dries up? And it will, every social site has eventually crashed or died a slow death. People can only take what cute Suzy is doing right this minute for so long. And people will tire of the old complaining housewife posting about her husband.

    Facebook is squarely in the midst of deeper trouble though. The myriad of lawsuits being filed against them is staggering. Legal fees alone will eat into their revenue source and eventually may bring down the company for good. Many of the lawsuits stem from simply using the site. Everyday common people getting fired, losing their jobs,their kids,their husbands,wives, houses being broken into,and of course the Facebook hack jobs who hack your accounts. Facebook is one site who has lacked in privacy controls and it has cost many people to be fired,arrested and more for simply posting their thoughts. Law enforcement hire people to scour Facebook posts, the CIA scours Facebook for any inkling of a threat and any message posted can be misconstrued easily. In retrospect is may not have been such a good idea to bring the world so close,as you can see it only causes trouble. Facebook is not Google, they are only a little bit better Myspace and we all know what happened to Myspace.