I can't stop laughing...Zuckerberg started the site as a perverted college site to size up women and borrowed, plagiarized or stole the concepts the site based itself on, depending on who you ask...There were many sites like this around the campuses. Recently, he skips out on a very important underwriters meeting before the IPO, pays twice as much for instagram, than its worth, without consulting the BOD, and he and his 3000 workers show the recession world its one big spending party before and during the opening bell...up to this point, its all been nothing but luck for Zuckerberg & if it weren't for the name "FACEBOOK", like "YouTube", Zuckerberg would be like "friendster" that failed due to bad planning, ideas, foresight, bad luck or a combination of all four...Zuckerberg never in his childish mind figured it would get this big and he is just as astonished as the rest of the world....Sergey Brin and Larry Page or Schmidt he's not
FACEBOOK Greed killed the IPO and momentum
1. FACEBOOK could have offered available shares to each facebook member at a discounted price; jump starting a new generation
2. FACEBOOK could have Priced each initial share at $25 giving everyone a chance to share in & capitalize off the FACEBOOK experience
Institutional insiders have come to realize this is a huge investment risk, thus the increase in shares dumped by them and last minute money grab increasing the initial offering price...one other thought, up till now, initial revenue has been based on the "advertising experiment" of businesses such as GM; as more realize the return is negligible, more will revise their budgets for such ads
As I expected & pointed out, news that Insiders were selling, Advertisers having second thoughts, Questionable Fundamentals, an Unproven future revenue Model and questionable hoodied management all led to today’s embarrassment saved by the bell and their underwriters....they have a big hill to climb to prove they're as smart as the boys at Google were/are - who just happen to be their competitors
IMO
