Tuesday, January 11, 2011

Facebook's Google Effect - NYTimes.com

A timely reality check

“Let’s call a spade a spade,” said Barry Schuler, managing director of the venture capital firm Draper Fisher Jurvetson. “This is a faux I.P.O., no matter how you slice it,” he said of last week’s private Facebook offering.

Investors “are just going on Goldman’s word and Facebook buzz, and they’re bypassing all the regulation that a public company has to comply with.” He added, “A lot of people are stepping back and saying, ‘Isn’t this the kind of behavior that created the last two meltdowns?’ ”

Facebook's Google Effect - NYTimes.com

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