LinkedIn IPO-LOL

Just another internet bozillionaire will be made tomorrow. Actually a hundred millionaire. Many early players get paid, ring the register and monetize “risk” that they have been carrying on their books for a long time. I applaud their risk taking prowess, it could have failed. So many (most) do. I know nothing about the ins’ and outs of Linkedin, I care nary a wit actually. I speak to people everyday and they still don’t know what it is, there is another tribe of people that logged in (me included) a year or so ago and still beg for those sixty seconds of their life back as they never returned to the site again. They still don’t “get” the benefit. Umm, is it a social thing? Ever heard of Facebook and Twitter or even Stocktwits?

With my jaundiced, jaded and humble opinion, I think it will fail miserably. Sure it may have a pop. I think Goldman is selling their entire piece on the IPO.  Are you Linked In?

Nothing wrong with putting a putting a $4.3 billion valuation on a company with slowing revenue growth and zero projected profits for 2011 or in paying $43.50 for a share that post-IPO will have a tangible book value of just of $3.38, or one-thirteenth what you just paid.

Gotta love Wall Street and you gotta love the greed and stupidity. Advice to the small investor….stay away, better uses of capital are out there. Traders? Have fun.

At least we were all lost in the fog of war and greed during the “tech bubble” as there were thirty deals a week. At least we  have had the luxury of looking at this joke of a deal.

P.S. Facebook will own this space soon, as they will everything else. Can you say Groupon?

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