More About That IPO Thingie

From SFGate:

"Facebook left nothing for the common investor," Forbes Publisher Rich Karlgaard wrote. "The insider pig pile of (private equity) firms and celebrity Silicon Valley angels took it all. This is a rather new, post-Sarbanes-Oxley fact, and it should make Americans very, very angry."

This new Uber-Investor model is set up to make sure that the value of any new company being offered has already been stripped out before it "goes public".  At this point, facebook may have achieved that weird critical mass that makes some companies float along like a massive planetoid falling thru space, but anybody on the outside who buys shares from here on out is really just paying a voluntary tax that keeps the Hedge Funders and Sarbanes-Oxley lawyers healthy.

We're arguing over the possession of the corpse, and I think this is what Kleptocracy looks like.