Quite. Facebook&#x27;s net income for 2014 was about $3B and it&#x27;s current market cap is $294B.  I&#x27;m not saying it&#x27;s current market cap is sensible, that&#x27;s for the future to decide, but looking at the historical facts clearly it&#x27;s valuation at $33B in 2010 has turned out to have been well judged.