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It's bidniss, bitchez!
LinkedIn is really only useful to headhunters/job seekers. I see no value in this structure other than another administrative task to keep salesmen, on B2B sales, away making sales calls. Perhaps some networking opportunities too. Then agian I am old school.
Yahoo! was brought public by Goldman. What a pile of worthless crap that still is. Linkedin is another fleecing on the way.
GOldman behind this IPO too? What ever happened to productive capital being used to be productive? I guess when debt is considered to be debt IPOs for belly button lint smoking operations makes complete sense.
productive capital investment does not make markets 'efficient', only scams and massive malinvestment. Didn't you get the memo?
I think you underestimate how many unemployed/underemployed college educated wannabe yuppies there are.
You are spot on. I forgot the young still believe that the yuppies are the elite. I would fall into yuppy territory, but have realized that the only thing that has entitled me to is a prettier prison cell and a nicer prison bus that transports me to the prison yard shop.
Don't forget the extra ration of lube.
I'd bet more than half the people here are on LinkedIn. As others have said, it's a yuppy thing, a platform to show off one's credentials and little different from the premise of other social networks. I prefer the 80's interface chic of Bloomberg people search, and there's fat chance LNKD is actually worth $83, but hey! We live in a QEx world so the money has to go somewhere.
Ya think it's not worth $83, let alone $45, let alone anything over 15x a truly honest EBITDA basis, on a good day?
...which means is it really worth $8?
Let's just see how they further 'monetize' it, lest its non-publicly traded tenure of lower costs distort what will soon to be its much higher cost structure as a publicly traded, regulated company (with the legions of accountants, attorneys and other necessary red tape compliance cost baked in).
Wait until imbeciles buying in realize that publicly traded companies have a cost structure that in on the order of many multiples higher than non publicly-traded ones, and that the meager earnings of this POS can be vaporized faster than Goldman can go from 'conviction buy' to 'conviction sell.'
You have to wonder just wtf a clunky "social" internet site, whose true operating costs can't be more than what they pay their janitor, is going to do with the $353 million they raised last night. Buy $353M worth of office supplies and servers? If it didn't make me laugh so hard, it'd be tragic.
it will all find its way into the "right" peoples pockets. this stock isnt worth 8 bucks let alone 80.
So what does it mean if I posted this particular thread from ZH on LinkedIn? A pissed off yuppy I believe.
All that QE money has to go somewhere. Social Networking is annoying. Anyone with more than 300 or so "friends" is lonely and over-compensating.
Anyway, I came across this interesting data in the 18 May 2011 "Things that make you go Hmmm..." and thought it was worth posting here for more to see.
Since Nixon closed the gold window in 1971, thus removing the last remaining check on the fourth branch of government, some interesting things have happened. You want to know why the middle class has been disappearing? Nixon is why. Although, conspiracy fans probably will say he would have been shot or something had he refused. When closing the gold window, his Treasury Secretary announced to the world something along the lines of, "while it's our currency, it's your problem." Riding an empire wave can be fun. Spending all that $$$ in Vietnam seems like such a waste. But, I digress. Here's the data from page 12.
The American dollar has lost 95.6% of its value since the creation of the Fed. Apparently, you used to actually be able to buy things with only pennies.
In 1971, the average new house cost $28,000, now it's $273,000 - inflation of 975%.
In 1971, the average monthly rent was $150, now it's $750 - inflation of 500%.
In 1971, the average cost of a gallon of gas was $0.40, now it's $3.80 - inflation of 950%.
In 1971, the average new car price was $3,430, now it's $29,200 - inflation of 851%.
In 1971, a US First Class Postage Stamp was $0.08, now it's $0.44 - inflation of 550%.
In 1971, a movie ticket ran about $1.50, now it's about $7.89 on average - inflation of 526%.
Now, here's the kicker: in 1971, the median household income was $10,300, now it's $47,000 - wage inflation of only 456%. Hmmm, indeed.
The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.
This is an excellent post.
I think it's accurate to say the dollar has lost nominal value. Actual value relative to wages is not as extreme. Were people making $50k/yr teaching in 1971? I'd like to see the same numbers compared to wage inflation, then compare the two ratios.
EDIT: Ah I see you provided that number as well. I guess my point stands. :)
It doesn't. The average worker has lost half his purchasing power in terms of housing and gasoline. This is not confidence inspiring.
And much more in taxes.. cause the more you "make", the more they can take!
And if he was wise enough to keep renting, and downsized to a car with better mileage (which not necessary has to be a much smaller car) bought two years old instead of new, he could break even.
As long as you don't factor in health/insurance costs and your kids tuition.
Now compare the average number of people having a job in 1971 and today in a household. My mother was at home. My wife is not. Wage infaltion is not 456%, but probably closer to half of this. The loss in income has been partially compensated by women now working.
It is only by having both parents working (for those who are employed) that Amerikans have been able to quadruple their debt and simultaneously lower their living standards and indebt their children, compared to the 60s and 70s.
That's how fractional reserve PonziCreditBubbleNomics banking works!
Exactly. Watch the Jones interview with Russo and see what the latter has to say about Womens Lib , 2 parents working and our old friendly family the Rockefellaaaaaaaaaaaaarghs.
Still as relevant as when it first aired:
A Mises Media Classic: Money, Banking and the Federal Reserve
Wednesday, May 18, 2011 – by Mises Institute
Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserveis just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans-Hermann Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.
Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.
Thanks, I'll watch it once it's saved to my hard disk.
Good comment. Printed for future reference.
The metrics mentioned are completely irrelevant. P/E?!? Passe! We don't need no stinking earnings!
On a price per clicks basis, the only relevant metric in this modern, digital age, LNKD is baaagin, baybe! To Jupiter and beyond!
8 million in net revenue - YES!!!!
This is going to USD $700 w/in 6 months!!!
Cue Abby Joseph Cohen AND Jim Glassman, baby!
LinkedIn Files For IPO; Revenue $161 Million For The First Nine Months Of 2010
“We expect our revenue growth rate to decline, and as we continue to invest for future growth, we do not expect to be profitable on a GAAP basis in 2011.”
What did PT Barnum say?
Pull my finger?
"Never give a sucker an even break!"
"There's a sucker born every minute."
Up nearly 100%. Where are those breaks to stop the massive speculation?
Do IPO margin hikes even exist? I would be curious to see what insiders are selling into this IPO and leaving the bag to the fools buying and willing to hold?
NYSE will be raising margins 5x over the next 2 weeks...
(yes yes I know there is no margin in the cash market...bear with me here)
It's only speculation if the banks are on the wrong side of it.
I add you all. For the profit.
And what does this company even do? useless...
LinkedIn is not even that good of a service. It is mediocre (imo). Nothing special about it.
Agreed 100%. Even other professionals still use Facebook to stay in touch as opposed to Linkedin. I'm connected to somewhere between 50-100 people on Linkedin but I have no clue exactly how many because I haven't checked in months. I don't know ANYBODY that checks it regularly. I wouldn't even call this a fad.
What a fucking joke. Somebody is going to get left holding the bag on this piece of shit stock...
I hope it's your son.
he actually did well in his H.S. business class for the fictional portfolio he talks about. he was only down 12.7% but he got a D+ in the class so he passed.
that being said, we are holding him back another year.
It was the lead paint in the house.
Did you often find him chewing on lead paint chips?
That poor bastard.
Do not take that reverse mortgage out on your house and go all in on a leveraged LinkedIn buy. Even if it means having his feelings hurt.
C'mon. You can't protect him forever, and when your gone, who will take care of him, feed him and change his diaper?
Maybe they can do a "stock" swap with a Chinese reverse merger...
Can't wait for the lock-up date on those IPO shares expires. This is going to be one BIG SHORT I do not want to miss.
But it is "social" on the web!! 980x P/E be dammed...!!! GET IN!!! AAARRRGHHHH>>>
I am sure this will end well. Whatever happened to IPO's being for capital investment? All this does is let the VC capital out at rich valuations, who ever buys this stock here deserves being separated from all his money.
Also, this is a great day for all the IPO flippers of the world. They are providing a great service and for sure adding "value" to this rigged, hilarious market. I am going to move to Africa.
I hear MySpace is really popular in Africa, and it's a screaming deal right now, it's going to EXPLODE, I just know it.
I've got a giant turd - it makes no money and it's got little potential - however it certainly will float.
I have been advised by Goldman that it's worth $50 Billion - so please invest at the float.
You don't want to be the only one without shit on your hands.
This is the news they need to make people forget that housing is down another .08% and the Philly Fed manufacturing went from 18.5 to 3.9.
True, but when I get a chance to buy some Facebook stock I am going to sell my metals, get a HELOC, charge up my credit cards, and find some signature loans to lock in on that winner. Facebook, now there is where productive capital should go. The Chinese ain't got nothing on our social world of egomaniacal delusion.
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