The Facebook IPO was this week’s biggest story. The social media giant, which boasts 800 million members, is seeking a $75-$100 billion market valuation. But hold your horses, investors. A lot of that optimism could be empty hype. After all, look at the site’s requested valuation as a percentage of its 2011 revenue, and compare it to other tech giants like Google and Microsoft. Also, contrary to Mark Zuckerberg’s claim, most of the world does not, in fact, “have access to the internet or mobile phones.”
Paris Review co-founder Peter Matthiessen will publish a new novel in the spring of next year. Matthiessen, who won the National Book Award in 2008 for his last novel, Shadow Country, said the new novel centers on “a weeklong meditation retreat at the site of a World War II concentration camp.”
“Because I am a writer, people sometimes ask me how ebooks have changed the literary landscape. The short answer, for me, is that I have developed a compulsion to drunk-dial Agatha Christie several times a week.” Elif Batuman on buying (and reading) while intoxicated, at Guardian.