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In this clip from Bloomberg TV, Lou Kerner, partner at SecondShares and social media analyst at Wedbush Securities, discusses Facebook’s entry into location based services and whether Google will attempt to compete with Facebook in social networking.

Lou calls Facebook the “Second Internet”, saying “really sitting as a layer on top of the first Internet, but more powerful in many ways than the first Internet because we’re all connected.” In response to whether Google will attempt to compete with Facebook, Lou says “Eric Schmidt has says the world doesn’t need another Facebook, but I do think they’re going to play a big role in social.”

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In this clip from Bloomberg TV, Lou Kerner, partner at SecondShares and social media analyst at Wedbush Securities, discusses a Facebook IPO. As Lou says, “I think there is a belief among many in the silicon valley, that going public isn’t an exit, its really an entry and you want to enter that at your own peril.”

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