In the following video, Motley Fool tech and telecom analyst Eric Bleeker looks at the bear case for LinkedIn (LNKD.DL). He tells us about the company's insanely high valuation and says that baked into the share price is a disruption of the entire recruiting industry, which is a tall order. He also tells us about U.S. saturation for the company and how many of its new users are going to have to start coming from emerging markets like Brazil or India, where each new user will generate less revenue than U.S. users. Eric also says to keep an eye on engagement, which will be critical to LinkedIn's growth.