Goldman Sachs still bans Facebook at work
This news item makes it clear that the focus of Goldman Sachs is not the business of Facebook but the valuation of Facebook
Investment bank behemoth Goldman Sachs is used to coaching its employees on proper online behavior. The company caused howls from media outlets this year after instructing its workers not to use expletives in emails (as if they wouldn’t have known pushing “shitty” deals was inappropriate). It has blocked employees from commenting on popular Wall Street tabloid Dealbreaker. And most significantly, it has banned the use of Facebook and other social networks.
This wouldn’t come as too much of a surprise–other big finance firms such as Morgan Stanley block social networking sites too–except for the fact that Goldman Sachs just invested $450 million in Facebook, a service its 35,400 employees are discouraged from using. Could that soon change?