How Facebook Fucked Up Its Own IPO | Hacker News Reader

How Facebook Fucked Up Its Own IPO

ritholtz.com

27 pointsj6r4d3n0i7r510 comments

I'd give the article more credit if the author knew that "phenomena" is a plural. How can Facebook be a "momentary internet phenomena"?

An expletive in the headline, followed by a pretentious Shakespeare quote. I stopped reading when he described Zuckerberg as 'an arrogant 28 year old man-child'.

I don't like Facebook much, but I'm not siding with this guy.

I could've done without all the hyperbole. I don't like Facebook, but their IPO was more or a less a success for them considering that the stock has actually fallen since Friday.

I dislike HFT as much as the next guy, but it doesn't look like this is any different from most trading that goes on every day from firms like Morgan Stanley. And as OP pointed out, it's not as if they're doing as well as they used to be doing.

So they got more money than they now appear to be worth? Sounds like they made off like bandits, not fucked up.

And they used their inflated valuation to acquire a whole mess of start-ups. I like your style FB.

Somebody doesn't understand the purpose of an IPO...

Worst article yet about Facebook, ad hominems aside.

The author does not seem to understand how stock market works, at all, actually. At this point, Facebook couldn't care less what the share price is - they sold them, the made off with the money, it's all secondary market now - and the share price now does not concern Facebook, they don't stand to profit from it anymore (unless some employees would like to sell their stock, etc etc, but they can worry about that later).

The author is Barry Ritholtz, and yes, he knows how stock markets work: http://www.ritholtz.com/blog/barry-ritholtz-curriculum-vitae...

Am I missing something? What exactly did Facebook do wrong? Seems like the bankers were the ones that made the mistakes when it comes to the facebook IPO. Facebook made out like a bandit. If the price tanks after IPO, it's not Facebook that is taking a hit, it is the institutional buyers that were suckered into overpaying...

Maybe a win for FB but certainly not for employees who would be on a share vestment plan that's locked to a price that would be (I imagine) higher than $31 - does anyone know the specifics of the employee share plans and the amount of the company that was floated?

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