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This is a write down, they could change the value on the books to basically any number they want assuming they can get an accountant to say it's not crazy. Thi
by CPLX 11y ago
This is a write down, they could change the value on the books to basically any number they want assuming they can get an accountant to say it's not crazy.
This has everything to do with Yahoo messing with its balance sheet and manufacturing an earnings number and very little to do with the value of an independent Tumblr.
- jliptzin 11y agoOnce again journalists writing about things they know nothing about and coming to conclusions they shouldn't be, such as standard wall st shenanigans/accounting games (not expecting much from buzzfeed). Another example: Every tech IPO that pops on day one is spun as a company in huge demand and doing so well when in reality it's just that the whole IPO was orchestrated in the first place for a huge first day pop so bankers could hand hefty returns to their most valuable clients.