You are basically admitting that Zuck didn't build a valuable company, but instead he conned investors (and Main Street) out of billions (coming days and weeks will tell exactly how much). So, congratulations to him I guess.
There's no con here. Anyone who bought at the open price had all the information they needed to make an educated purchase of the Facebook stock. I'm not an institutional investor and I looked at the P/E of 100 and thought it would be kind of silly to buy at that price and many others here seemed to think the same thing.
Zuck has built a valuable company - its just not $100B valuable. But a $25B company isn't peanuts.
Agreed, but it turns the stomach a bit to read the FB fanboys slapping each other on the back about FB being a "$100B company" (and that the IPO "proves" it).
FB scored a win by getting $100B, but in my opinion it's tainted, and they may have poisoned the well for those who follow.
