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Before it gets all the politics today at -- and toll associate editor for Barron's it starts its office -- -- like to ask.
Whose fault is this such a mess since the IPO well I do I think -- plane fall to go around really and I'll be honest with -- one thing that never gets mentioned I've been saying from the beginning we've been bearish on FaceBook I think a lot of people have -- -- Since it came public is it most waited a year to long to go public because it was almost too mature into ubiquitous in too much of a real business.
When you're just nothing but hopes and dreams on the com.
Like very early stage companies are.
You have to worry about really showing it right away and they do so I do think it was the fault of of Wall Street getting getting -- hundred billion dollar -- get figure in their head.
And the company and you know I know this lot of talk but the CFO was instrumental in all this book too much stock into higher price hit a market that was not willing to just believe all the -- Should it can't even be public after we know the reasons why chart that companies go public to let their early investors cashed out which may have died which -- another warning sign the number of shares being sold just -- offering and in the weeks after.
I honestly think at this scale he would be unusual for a company FaceBook -- not to be public just because you really almost need.
That potential liquidity for employees your hiring giving them stock.
And basically as a as a more union as a benchmark of of kind of what you're achievement is so yeah they -- waited even longer and they could they don't need the capital.
But I do think it makes sense for the new republic it's just that what value what price and not something that I think the market is not yet figured out that's that's the thing is that some 'cause we have these conversations goes on and on you start to think what this company must we go out of business obviously FaceBook is not right is that this is okay even though the IPO -- just to disaster in terms of -- the business is okay I mean look it's it's making money.
It's it's obviously you know a lot of companies that are public less and less than -- aren't close to making money it's making money the problem is.
It's is is is it saturated can they figure out a new way for new revenue streams.
And at some.
Level of the stock make sense as well one.
At what level that I think not too far below here I think when you get toward fifteen dollars if it gets there I think you're gonna see allowed to vibrate -- -- this weird zone -- growth investors are not happy with the growth outlook.
Yet it's not cheap enough on paper for value investors to get involved but look Linkedin is only 13 -- the market value of FaceBook you telling me that it's not.
You know it's actually worth 13 theoretically -- We quickly though does it hurt more -- does -- hurt hiring doesn't hurt the company's growth.
The calls those could employees now to sit there and watch this stock has all the CEOs and always act like it's not a big deal.
Though it's a big deal obviously it's definitely it's definitely an overhang on psychology I don't know if -- instrumental for the business you know in the future but it's -- something that doesn't help when you see apple -- to new highs for example every day and you stink up the joint.
Thank you and I cut.
Never mind -- like -- I thank you.
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