Andy

May 22, 2012

The Facebook IPO Was an Inside Joke

'Analysts at three of the major underwriters- including Morgan Stanley and Goldman Sachs- significantly reduced their forecasts for Facebook's revenues just before the IPO- according to Reuters. They did not widely publicize this information via- say- a Facebook status update. They quietly shared it with their buddies at hedge funds and other big investment firms- many of whom cut back on their investments accordingly. Meanwhile- the general public continued to froth at ever-climbing valuations.' This is my surprised face => 😐

The Facebook IPO Was an Inside Joke

Facebook's stock continues to suck harder than a Northwestern University freshman on a 5-foot bong in his profile pic. And the fallout from the most hyped IPO in history bursts not just the illusion that Facebook is actually worth $100 billion- but the idea that Facebook is different than any other….