"To some extent, this mirrors the volatility of fortunes in the dotcom era at the turn of the century – 1999 to 2001," continued Kaplan. "Expectations then proved to be wildly optimistic for many companies. The future value of today's social-media fortunes will depend on the cash flows and performance that the social-media companies are able to generate.”
Of course, individual investors have also lost big on these companies. And the losses of the social-media founders shouldn’t generate much sympathy, since many are still worth hundreds of millions or even billions of dollars.
Yet the social-media bust has revealed just how manic today’s tech wealth has become. Here are five of the biggest losers in the social-media and web bust. Of course, these fortunes could always come back as quickly as they fell. But for now, these founders are, well, Zucked.
Mark Zuckerberg – It’s fitting that the poster boy of social-media wealth has become the poster-boy of social-media wealth loss. When Facebook debuted, Zuckerberg’s shares in the company were worth around $20 billion. He was richer than the Google guys and was briefly the 29th richest person on the planet.Page 2 of 5 | Prev Page | Next Page