[quote=pri_dk]There will always be some shenanigans in the business world. There will always be ups and downs in the markets.
I gotta agree with mm33’s basic point here:
Silicon Valley, although imperfect, is the “good” kind of capitalism. The kind that our economy should be built upon.
Facebook’s share price? Whatever. It has almost nothing to do with government policy.
On the other hand, Haliburton’s share price has almost everything to do with government policy.[/quote]
So are we distinguishing between good croynism versus bad cronyism 🙂
Pri, I think whati find ironic is that there is this notion that “wall street” is bad in one aspect and then good when it is using the same dirty techniques to prop up companies that you and mm are defending. Clearly neither of you have been at ground zero at a startup or how these games are played. The days of some enginerd sitting in a garage inventing something and going public have long past. Though that is what the media , VC, and wall street want you to believe.
Allan mentions quattrone, do you understand what he got away with. And it wasn’t just him. The same banks that were underwriting these hot shot ipos were also influencing the sell side of the house that were rating and providing all those projections and price targets and buy recommendations. It was a huge conflict of interest and it worked and proped up a lot of these tech companies so that banks and the vc’s could make a killing.
These tech ipos are no different than halliburton. Halliburton gets help from gov.
These darling ipos get a nice pump and dump from wall street firms under the guise of something “cool”. Don’t like thesystem, dont play in the game. It is is as simple as that.
