>>> so is the facebook stock worth the hype? is it lived up to all the hub-bub? zachary karabell is a cnbc contributor and writes for "the daily beast ." the man has about 12 jobs, so we really appreciate your time. let's start withndices. they're on track to post their worst weekly drops this year. what if anything can this facebook fever do for the mood of the street today?
>> well, of course, we don't know what the markets would have done if facebook had an ipo, so you can't look at the markets being down today if they had been down for the past four days and go, well, it didn't matter because it could have been a lot worse. it's certainly true that how these things pofrm is, you know, a game of chance depending on what day they open. if the mood's great, this might have been up 20%. if the mood is lousy, it's up five. i'm not sure yo can glean a whole lot from that.
>> are you surprised at all by where the stock sits today?
>> i was with a group of institutional money managers a week ago. most thought it would be up 20%, 30%, 407 just looking at how hot stocks have done. there are a lot of retail investors in that. thing that says a lot about -- this is the kind of stock -- they use facebook . they think it's important. they think it's valuable. a lot of people are investing in it who aren't just fast trading.
>> you mentioned something earlier to me. you said all of this is against a very interesting backdrop. we've got a neat juxtaposition here. facebook on friday, meanwhile, oversees the eurozone, greece, about to go off a cliff.
>> think it's like is our future going to be defined by the structural issue os testify 20th century or the innovations of the 21st. and maybe facebook 's hyped. i don't know. it's certainly 900 million, counting you. i use it, you use it. some use it for entertainment. some for real business experience. that's the kind of thing that created the web, the stuff we used today that's going to create a 21st century economy. the other thing is are we going to be create that before greece and the eurozone end it?
>> there have been a lot of folks over facebook 's ability to generate that kind of revenue in the future that it's generated the past. what's your take on that?
>> people should be concerned. it's a new company. it didn't exist five years ago. it's $5 billion.
>> on paper.
>> on paper. 4.5 million on paper. apple went up and almost died and went up again. so they're going to have to prove that they are a viable long term, but every business has to prove they're a viable business long term. if it fails to do so, will it have been hype? no, it would have be that they weren't able to execute on it.
>> zachary karabell, thanks for your time?
>> i didn't. i suppose i could get some now. it wouldn't make a whole lot
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