Chronicling the social networking bubble 'from pump to dump'

New blog dedicated to exposing what it calls the social networking IPO 'scam'

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But using simple examples, Tincup lays out this complex process in a way that makes it understandable even for readers who thought an S-1 was a guitar formerly made by Gibson.

In the blog's debut post, Tincup focuses on LinkedIn executives and other insiders who have been selling off huge chunks of pre-IPO stock grants at unbelievably high profits.

"Back in the good old days, you would never see the executive management team dumping such large percentages of their shares," Tincup writes, "for they wanted to send the message that they believed in their ability and business model to continue driving the stock price up in the future."

Let's face it, the warnings of a few skeptics like Tincup and Business Insider's Henry Blodget are easily drowned out by the corporate media-enabled Wall Street IPO hype machine. Still, I'm glad they and others are still trying to inject a modicum of sanity into the public discourse.

It might not stop the bubble from expanding (especially with Facebook grinding toward the IPO launch pad) and then exploding. But at least it's good to know, to quote the old X-Files slogan, that the truth is out there.

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