When Nothing Equals $1 Billion
Ever heard of Mark Pincus? He’s worth $1b. How’d he get it? He created Farmville.
I’ve got a love/hate relationship with Facebook. I stand fast in my assertion that the minutia of my life is best left to pass and not posted for the world to see on a social networking site. But as Facebook grows in popularity and they find new ways to generate revenue Facebook becomes more ubiquitous than ever.
Now comes word that Zynga, the company founded by Mark Pincus and has brought you such favorites as Farmville, CityVille and Mafia Wars is worth $1 billion dollars. This is big news because if you didn’t know the money was generated by selling game features that have no intrinsic value.
Zynga is basically printing money. Money for nothing.