Well, well, well, what an utter f*ck-up that was. The big, bad Facebook bubble burst in investors’ faces and now newlywed Mark Zuckerberg is being sued as well as the NASDAQ exchange.

At least that’s the widely held view. But it should be remembered that the point of an IPO is to raise money. Facebook did that, it raised $16 billion whatever the current market cap of the company. Continue reading →