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About This Blog
- Sivaram Velauthapillai
As bizarre as this sounds, one of the most valuable innovations in technology over the last several decades is Facebook's "Like" button. That's what has propelled the company to a galaxy-orbit valuation for its forthcoming initial public offering, filed Wednesday.
This is not only because the word "like" is, like, the identifying word of an entire generation. It's because computing has evolved beyond just taking directions from humans—and instead is cozying up to us and sniffing out our emotions and intent.
— Andy Kessler, Wall Street Journal
Three decades ago, if someone had told you that a company that didn't make any physical products, had existed for less than a decade, and had less than 3,000 employees would be worth $100 billion, would you have believed it?
But here we are, three decades later, and stock market participants appear ready to award a $100 billion valuation to Facebook (FB). Are they crazy? Is this irrational exuberence taken to another level?
Mark Zuckerberg and his team have done an amazing job creating something out of, literally, nothing. Facebook's valuation does appear bubbly and contrarians like me would never buy it at these valuations. However, the company's fundamentals are far more solid than many skeptics claim.
Facebook is not what it seems; the more I read about it, the more impressive it gets.
Tags: business analysis, Facebook (FB), insightful, investment evaluation, technology
Embedded infographic from Visualizing.org
Thanks to CanadianValue for this great find: a video of Warren Buffett's office, as well as him sharing his hobbies and describing some of his ideological views.
Check it out fullscreen in 720p HD;
They should have used more colours but oh well
I ran across a pretty good, old, video, posted on July 15, 2011, but possibly from an event in 2010(?), of a conversation between Vanity Fair's editor, Graydon Carter, and Michael Lewis. The talk mainly covers the financial crisis, Wall Street culture, and book authorship. It's a really good 8-part interview, lasting approximately 40 minutes, and I recommend it to anyone interested in the culture of Wall Street, the 2008 financial crisis, or is simply interested in writing non-fiction books.
Most of you probably know of Michael Lewis as a contributor to Vanity Fair and Bloomberg, and the author of popular books such as Moneyball, The Big Short, and Liar's Poker. Lewis is arguably the most-entertaining American writer covering business culture. He isn't everyone's cup of tea given how he paints with broad brushes and makes stories easy to digest, but I love his writing and his humour. I haven't read The Big Short yet but do plan to do it at some point. (If you are interested in the financial crisis, the best book is probably The Great Hangover, a collection of articles and essays by Vanity Fair, which also includes a couple of articles by Michael Lewis.)
(Thanks to @pkedrosky for originally bringing these videos to my attention.)
The following is the 1st part out of 8. I can't seem to embed all 8 into the same blog post for some reason so grab them at the original source from this link.)
Part 1 of 8
Tags: AIG, bonds and credit instruments, business culture, Goldman Sachs, Michael Lewis, real estate