Goldman have a lot of other ways of profiting from this other than simply taking a share of FB margins. For a start, they get to be in charge of the entire IPO process. That alone will be very profitable for them.
There was a bunch of other stuff like this discussed in the threads on the goldman investment itself.
agreed. plus Goldman can profit on the Greater Fool effect. i was just assuming that, if you weren't Goldman, and weren't going to take advantage of the Greater Fool effect, etc., and you wanted to buy-and-hold rather than buy-and-flip, then, the numbers don't look too compelling at the $50bn valuation.
but yeah, anything can happen, and there are lots of factors involve.
There was a bunch of other stuff like this discussed in the threads on the goldman investment itself.