Facebook IPO - Lessons learned?

[whell]

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.