Facebook ($FB) is rocking after earnings tonight (I have no position).
Not only do I not own the stock, I don’t have Facebook’s app downloaded on my iPhone (will do so again now). I had stopped using it a few months back again and just deleted it to clean up my screen.
I don’t think it is about hedgies being short Facebook, I still think it’s about supply of pure mobile franchises. There is a lack of them as I blogged recently.
Take a good long read of Bill Gurley’s great missive on Mobile from a few weeks ago. Then print it and pin it somewhere to read again every month through 2013.
Bill dives into his portfolio of companies in the hunt of course (You must always talk your book). $YELP (long) is close to pure mobile and now has the currency to make some real noise. With Instagram, $FB is really close. Video is of course still the wildcard but since Instagram now offers videos and I use them when the urge hits me. I recently deleted the Vine app from my homescreen as I never use it anymore (i hope they can get me back).
Stocktwits, Twitter, Instagram, Gmail and Google Maps are my top 5 most used apps. Next in line are Schwab, Wells Fargo, WhatsApp, iTunes and Techmeme. I live in San Diego so I do not need a weather app. I imagine LinkedIn needs to figure out how to break into this batch with users like me.
I prune apps already like I prune stocks. With apps, if I am not using them monthly, I delete them.
If Facebook has indeed figured out mobile, the hedge funds will be in a tizzy to buy the dips in anything mobile web throughout the rest of 2013. That is what interests me most right now.