Tuesday, October 14, 2014

It's 1999 all over again!!

** Special note: for all of my Facebook bashing, note the new "Facebook share button" to the right of this post.  If you like what you see, share the post and I'll see if that works (I'm not on Facebook - yes apparently I'm THE ONE - so I have no way of testing the button).
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I wish that I had saved some of my old files from 1999 aka the dotcom bubble version 1.0.  I distinctly remember a pitch from a new cell phone concept (this was the pre-app era) that would "pitch you deals or coupons as you walked down Park Ave. in NYC".  For a number of reasons this concept died on the vine.

However, fast forward 15 years and what's old is new again....

"Facebook's location-based ads pitch you on the store you just walked by"

"On Tuesday, the company began rolling out a new feature for local advertising that lets businesses target users based on whether they’ve gone near the physical store that’s being advertised. The ad could pop up in your Facebook feed around the same time you walk by, or some time later.

The localized targeting could help smaller businesses on Facebook reach a larger number of would-be customers, giving Facebook a new revenue stream in the process. Over the past year or so, some smaller businesses have seen their exposure decline on the site as Facebook has tweaked its formulas for promoting their Pages."
Yeah, just what I want more Facebook ads!!!
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This is an interesting chart which got some coverage last week.
The red line represents the official "headline unemployment rate".  The grey line is U-6 which includes the short-term discouraged workers, marginally attached and part-time for economic reasons.  The Blue Line represents ShadowStats estimate of Unemployment if you take U-6 and the long-term discouraged that are no longer measured by the BLS.  I'm not sure I buy 23% unemployment, but if you've ever been out and about at 1pm on a Wednesday you might believe that unemployment is actually higher than the reported 5.9% number.
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Quick mkt commentary - markets were extremely volatile again today.  Despite finishing mixed, some markets were up nearly 1.5% earlier in the day so a flat day has to be discouraging.  The liquidity is so incredibly thin that I think some people are getting very rattled.  It's worth watching closely. 
Cheers! 

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