Peter Kafka

Recent Posts by Peter Kafka

Wall Street to Yelp: Facebook Search Should Scare You

We won’t know what yesterday’s Facebook search announcement means for a long time. Could take years, really.

But the market made up its mind very quickly yesterday, and you can see it illustrated quite nicely below: It wanted to see more from Facebook, it thinks Google is just fine and it’s not worried about LinkedIn. But it thinks Yelp could see real competition from Mark Zuckerberg and company.

It’s pretty obvious in these Yahoo Finance charts, but just to be clear: Zuckerberg started speaking around 1 pm ET yesterday. The markets open in a few minutes, so we’ll see if anyone has rethought anything overnight.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik