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A humorous yet poignant post. Well done, Mr. Goldberg. Was that a Braveheart reference at the end? https://www.youtube.com/watch?v=9Sa_OQgWiPA
1 year, 4 months ago on I speak fluent Nerd. I speak fluent Hipster. I speak fluent D-Bag.
@bgoldberg @JonathanMPaul Thanks Brian. Really enjoyed the article. You nailed it on removing yourself from the company. If you're integral / the brand, then it makes it much harder to sell. Creating a property that can thrive without its founder(s) is very smart. A sign of great humility as well...despite what others might say on this comment thread.
1 year, 6 months ago on I’m starting another content company, and I plan to make a fortune
@bgoldberg Can you talk about the importance of video content with any new content venture you launch? Seems like the biggest / best sites (PD, HuffPo, TC...BI) are all producing much more high quality original video content. Great post. Thanks you!
@Francisco Dao My fault. I was under the impression "generation me" was now assigned to the millennials (thanks to Jean Twenge) and since you mentioned the 80s...well, it all fit. Honest mistake. Like I said, still a great read. Thanks for sharing.
2 years ago on Looterism: The Cancerous Ethos That Is Gutting America
@Francisco DaoWhile you do say you don't know, your first guess is to point out the millennial generation? "I doubt anyone can pinpoint the exact reason for the transformation. Perhaps it was the onset of the “Me” generation of the 1980s..." I thought that was a bit of a jab as well as being one of the least reasonable explanations for looterism.
Enjoyed the column, Francisco. I wouldn't be representing my generation unless I took issue with your millennial jab. While it might have some merit, I don't think it should be your first explanation for looterism. I'd like to propose that the trend began in the 80s from the resurgence of free market fundamentalism of the Ayn Rand disciples who rose to positions of power over the last three decades. Of course the looters will run rampant when the people who are supposed to be governing turn a blind eye without regard for the social costs. Not sure it's possible to point the finger at people who have only been able to vote in the last two, possibly three, elections. In light of the current political climate, I'm curious to hear your thoughts on the private equity / leveraged buyout business model. Does it create real societal wealth or is it just tax arbitrage that can be used destructively to gain by looterism?
I've been wondering when receivables factoring would come to the digital advertising world. Great find, Mr. Carney.
2 years, 2 months ago on Anti-Bank FastPay Raises Additional $25 Million to Finance Digital Advertising Receivables
"On the other hand, the lack of a pop is most definitely not cause for alarm. It not only means the IPO was priced correctly. It means that the secondary markets actually worked."
Taking a look at the price action and information surrounding the IPO, it's very hard to make the case that the IPO was "priced correctly". It was a fantastic price for FB and helped them raise a boatload of cash, but the company valuation at the IPO of $100B+ wasn't correct as the market has shown. Yes, some people paid at a $100B valuation, but we all know they're the "dumb money". The underwriters had to prop up the stock on the first day which is a big red flag that the valuation was overblown. The company's value is now in the $65B range after breaking the $30 mark today. As for the secondary markets, I'm a big fan of SecondMarket, but it's very difficult to price high growth private tech companies without access to a great deal of information and transparency from the specific company. They secondary markets worked extremely well for investors and company insiders looking to trade private shares of the company at inflated valuations, but it's hard to argue that they worked efficiently since it's so hard to value the company correctly since secondary markets are a bit of a black box. I'm a big fan of Zuck and Sheryl, as well as FB. It's a great company, with great leadership and has the potential to be a $200B+ company but they're a long, long way from being there.
2 years, 3 months ago on So Facebook Isn’t the New Google, But Zuckerberg Could Be the New Bezos
This reminds me of Marc Benioff's epiphany for Salesforce came while swimming with dolphins in Hawaii.
2 years, 3 months ago on Matt Mullenweg: I’m Worried That Silicon Valley Might Be Destroying the World
Impressed with all the engagement on this article, thought I'd add my two cents. Eduardo has the right to do whatever he chooses, i think he's paying his fair share since he's going to have a ~$600M exit tax bill and he's "only leaving" to avoid capital gains on any upside from the IPO. There could be more to this story. Singapore is the gateway to asia, a great place to start a business, raise a family (if you want your kids to be fluent in mandarin) and the US could learn a thing or two from Singapore's success. Yes, I'm looking at you our dysfunctional political system, particularly Congress. Singapore is ranked highly in three categories the US used to dominate: rule of law, control of corruption and government effectiveness. I would be interested to hear Mr. Saverin's reason, beyond the obvious potential financial upside, for choosing to renounce his US citizenship. IMHO, the story isn't "why is Eduardo such a greedy bastard?", the story is why did he do something that would have been unimaginable a few decades ago?
2 years, 3 months ago on What Eduardo Saverin Owes America (Hint: Nearly Everything)