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Zynga IPO Will Make Mark Pincus Poorer
- tatsuke95 15y agoIf there's one thing we've learned from the financial crisis, it's that Wall Street will do anything to prevent becoming "poorer". I think we all agree that Pincus hasn't demonstrated that he has morals above and beyond those of your typical financier. Put on your tinfoil hat for a second: Zynga of late has been bombarded with negative news. With the IPO looming, Forbes (part of the financial machine) and others begin to spin tales of how this IPO will actually make the individuals most likely to gain poorer by going public. "See? They're good guys who put the company ahead of themselves, not a bunch cut-throat, data-munching, nickle-and-diming sharks."
- owyn 15y agoHeh. Link bait title from Forbes, who would have thunk it. This is all just paper wealth. They are just comparing a hypothetical valuation from a few months ago to the pricing of the real IPO. I'm willing to bet that the original valuation was inflated in the first place so that he'd be on their celebrity billionaire list. So let's see... they invented a number for his wealth in the first place, and now they are writing about how he's not as wealthy as he once was on paper, but in reality he will now have REAL wealth. This kind of bs is just another case of business "journalism" taking pointers from celebrity "journalism". Bleah.