Facebook IPO - Lessons learned?
 

I'm curious what my friends on the left side of this forum think about the events surrounding the Facebook IPO. Here's a firm that where the number 1 and number 2 ranking officers - Zuckerberg and Sandberg, who now have net worth in excess of $15B and $5B respectively - are certainly Dems and lean left.

Yet the IPO has made them billionaires, and had been fraught with allegations of, at best, overvaluation of stock, to at worst insider trading and mis-communicated changes to the valuation of the stock within days of the IPO. CBS News called the IPO 'drenched in arrogance' as the stock was overvalued and over-hyped from the start, and the insiders fed and fueled the hype.

Now, I suspect that if this were a company owned and abetted by the political right, some folks on this forum would be chomping at the bit to post how the Wall Streeters are getting their "comeuppance" and how greedy the right leaning owners must have been. Does that same characterization apply to this IPO, and this company, and these newly minted lefty billionaires?

I also suspect our mainstream media - those who cover the finance / investing world - are a bit complicit here as well. I think many were caught up in Zuckerberg's celebrity rather than doing any objective analysis of Facebook's finances.

Good post!



Borrowing from a Merrylander post....

http://www.imf.org/external/pubs/ft/...NEW091211A.htm

There seems to be a double standard with where the wealth was acquired. If you are Oprah...a rock star, Michael Jordan, or made your millions as a box office star...the disparate is NOT!? :rolleyes:

Take that and this

Ain't that great, and that was with depositors money too. I hears on the radio that indeed the gov would bail them out too because of deregulation.

And now Greece seriously looking to default.

Gonna be an interesting summer money wise. :eek:


Carl

Can you expand on your labeling the Face guys Lefties.

How on earth is this a smear on the left as you are suggesting?

It's not.

Modern capitalism is a gambling game in which the participants try to rig the game.

The right is the group that wants the games to be left alone so all can try and rig their bets the left wants capitalism to return to what it was pre casino days.


Why are you so damned confused about these things?

I think he thinks Facebook folks are lefties because he things folks a on the right are to scared to use Facebook. All that info about them out there would require them to scrap the guns and buy tanks to feel safe.

Wow, and here I thought Dodd-Frank fixed all that....

Don, commies, pinkos, marxists... ;) :D

Couldn't resist, sorry.

Pete

Open up your closed little mind, noone. I believe you've participated in the rants in this forum against corporate greed and the evils of capitalism. Yet, here are some prominent leftists who got caught all wide - eyed at the prospect of making a killing in the market. Using your terms, they were willing to "rig their bets" by over-valuing their stock price in an IPO. Now that they're caught with a bit of egg on their face, how do you account for their actions?

Not my label. Zuckerberg and Sandberg are fairly open in their support for the Donkeys.