Box.net files for IPO
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I've been in IT for 25 years!
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@scottalanmiller said:
@Dashrender said:
I'm sure someone can remind me what the root of the burst was last time?
People invested in companies with a web presence based on nothing. There was no business model, no customer base, no revenue. Investors were insane and just kept investing even when there was clearly nothing there.
Much like we see today. Have a "cloud" business and investors give you money even if you don't actually have anything.
Yeah, I think the bubble is coming. I remember the dot com bust and it was crazy. Someone tried to buy the company I worked for before the bust and it was insane.
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@DenisKelley Let's take the recent Target fiasco. Now apply that to Facebook or one of the other more recent IPO's. They are one major security breach away from starting a panic.
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Security rarely effects Americans. Americans are not a security conscious society. Personal freedom and protection isn't something internalized in our society. We talk about it but that is more misdirection.
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@scottalanmiller We've been 'conditioned' to not care.
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Yes, I agree - people just think it will never happen to them. How easy they forget!
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@scottalanmiller said:
@Bill-Kindle said:
@scottalanmiller We've been 'conditioned' to not care.
Mostly by ourselves.
And that apathy towards privacy on the net bothers me the most. You see a lot of people doing mental gymnastics trying to justify why it's OK and that if you don't want it shared don't put it on the net. To me someone's digital foot prints are no different than their personal effects. They are to remain digital private property subject to the same laws that require a search warrant before obtaining. The snooping is inexcusable.
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Twitter stock now tumbling:
http://data.cnbc.com/quotes/TWTR -
@Bill-Kindle said:
Twitter stock now tumbling:
http://data.cnbc.com/quotes/TWTRAnd Tumblr sticks now Tweeting?
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it's quite interesting that these "tech" companies are so over-valued. I mean look at the Candy Crush makers ipo today, valued at 7 billion, stock prices when down shortly after they become available and they are down 10 percent already. I am not sure i understand why a company that is so small issued 15 million shares of stock for such a high rate when it only has a single product to sell. Its a fad that these companies are riding for a single product line. This is not sustainable by any measure.
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@david.wiese said:
it's quite interesting that these "tech" companies are so over-valued. I mean look at the Candy Crush makers ipo today, valued at 7 billion, stock prices when down shortly after they become available and they are down 10 percent already. I am not sure i understand why a company that is so small issued 15 million shares of stock for such a high rate when it only has a single product to sell. Its a fad that these companies are riding for a single product line. This is not sustainable by any measure.
Why not, if they can get idiot investors to buy their stock and they tank tomorrow - They'll have drained the company of all cash and let the company (and the stocker holder) be left holding the bag.
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@Dashrender and that is what i don't understand, who is stupid enough to by stock in a one-trick pony? Apparently 7.1 billion dollars worth of stupid exists though.
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All IPOs work like that. Huge surge and then drop.
It's funny that this is noticed here since so many of us are here specifically because of the actions elsewhere as a company tries to make themselves "look big" leading up to their IPO.
It begs the question - who would buy those stocks when there is no tangible value in the company and what intangible there is rides on an illusion and could evaporate overnight.
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@david.wiese said:
@Dashrender and that is what i don't understand, **who is stupid enough to by stock in a one-trick pony? **Apparently 7.1 billion dollars worth of stupid exists though.
Goldman-Sachs
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@scottalanmiller good point
