[单选题]ItwouldbealltooeasytosaythatFacebook’smarketmeltdowniscomingtoanend.Afterall,MarkZuckerberg’ssocial
networkburnedasmuchas$50billionofshareholders’wealthinjustacouplemonths.Toputthatincontext,sinceitsdebut(初次登台)onNASDAQinMay,FacebookhaslostvaluenearlyequaltoYahoo,AOL,Zynga,Yelp,Pandora,OpenTable,
Groupon,LinkedIn,andAngie'sListcombined,plusthatofthebulkofthepubliclytradednewspaperindustry:
Asshockingasthisutterfailuremaybetothenearly1billionfaithfulFacebookusersaroundtheworld,it’snosurpriseto
anyonewhoreadtheinitialpublicoffering(IPO)prospectus(首次公开募股说明书).Worsestill,allthecrisesthatemerged
whenthecompanydebuted-overpricedshares,poorcorporategovernance,hugechallengestothecorebusiness,anda
damagedbrand-remaintoday.FacebooklookslikeaprimeexampleofwhatWallStreetcallsafallingknife-thatis,onethat
cancostinvestorstheirfingersiftheytrytocatchit.
Startwiththevaluation.TojustifyastockpriceclosetothelowerendoftheprojectedrangeintheIPO,say$28ashare,Facebook’sfuturegrowthwouldhaveneededtomatchthatofGooglesevenyearsearlier.Thatwouldhaverequired
increasingrevenuebysome80percentannuallyandmaintaininghighprofitmarginsallthewhile.
That’snothappening.Inthefirsthalfof2012,Facebookreportedrevenueof$2.24billion,up38percentfromthesame
periodin2011.Atthesametime,thecompany’scostssurgedto$2.6billioninthesix-monthperiod.
Thisso-soperformancereflectstheAchilles’heelofFacebook’sbusinessmodel,whichthecompanyclearlystatedina
listofriskfactorsassociatedwithitsIPO:ithasn’tyetfiguredouthowtoadvertiseeffectivelyonmobiledevices,Thenumber
ofFacebookusersaccessingthesiteontheirphonessurgedby67percentto543millioninthelastquarter,ormorethan
halfitscustomerbase.
Numbersareonlypartoftheproblem.ThemountingpileoffailurecreatesanegativefeedbackloopthatthreatensFacebook’sfutureinotherways.Indeed,themoreFacebook’sdisappointmentinthemarketiscatalogued,theworseFacebook’s
imagebecomes.Notonlydoesthatthreatentoruboffonusers,it’sbadforrecruitmentandretentionoftalentedhackers,whoarethelifebloodofZuckerberg’screation.
YetthebrilliantCEOcanignorethesadnessandcomplaintsofhisshareholdersthankstothesuper-votingstockhe
holds.Thisarrangementalsowasfullydisclosedatthetimeoftheoffering.It’sapitysofewinvestorsapparentlybotheredto
dotheirhomework.
Whatdoestheauthorimplyinthelastparagraph《》()
A
Sleeplessness does harm to people’s health.
B
Few people really know the importance of sleep.
C
It is important to study our sleep patterns.
D
Average people probably sleep less than the rich.
正确答案：B
题目解析
本题考查判断推理。
题干问的是作者在最后一段所表达的观点，定位到最后一句Ifthemosthealthconsciousamongushavesuchdeepswingsinourshuteyelevelsthroughouttheyear,howmuchsleeparetherestofuslosing?作者提到了health-conscious，人们对健康的意识是缺乏的，对健康是视而不见的，综上，B选项正确。
