Facebook IPO

Facebook IPO

I’m neutral on this, I have no skin in the game, and I’m skeptical as to whether the IPO will benefit users (ha!) or simply amplify the rate at which their personal data gets exploited. But it seems to me that financial journalism has succumbed to the attitude that the purpose of a stock IPO is to make everyone lucky enough to buy in filthy rich on Day One, simply by virtue of their being fortunate enough to have the opportunity to buy the stock. That’s an astonishingly bad way to look at IPO’s, and is exactly the attitude that resulted in the first tech bubble back around the turn of the┬ámillennium. You’d think by now we’d be smarter than that, but no.

Leave a Reply