So Facebook’s IPO was a disaster. Or maybe it wasn’t. Yes, it was an utter fiasco. No, wait: “The debacle was not the IPO but all the whining by speculators who didn’t make money.” Nope, it was “the flop of the decade”, the worst first week of any IPO in years. Au contraire: “What we have here is an investment banker acting ethically. And the whole financial press is atwitter about it.” Nuh-uh: “The IPO discount is the cost of going public.” Yadda, yadda, yadda, ad nauseum.
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