Mark Zuckerberg is profusely apologizing for Beacon’s shortcomings.  

I’m not proud of the way we’ve handled this situation and I know we can do better …

It sure looks sincere to me and I don’t think sincerity even matters all that much in this case.  They srewed up, they are fixing things fast, time to move on.

Like many I’ve been cynical of Facebook valuations and some of the ridiculous hyperbole, but this whole fiasco was a great study in now quickly you go from being tauted as “the next big thing” to tauted as being “dead”.    Also an example of how major media still does not quite get the web thing – just yesterday we read “Facebook RIP” which foolishly suggested this could be a major event for them.    

Google social is a major stumbling block for Facebook, but Beacon is just a tiny bump in the road to more riches.    That said I still think 15 billion dollar valuation is absurd.   But, I thought Google was overvalued too and I was sure wrong about that…. so far at least.