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The Genius of the Facebook IPO
- Tycho 14y agoWall street executives have extensive connections in the political world. They will almost certainly seek new regulatory rules that will protect their profits, for example by mandating a minimum spread between wholesale/retail prices. Of course, they will lobby in the name of protecting ordinary investors, even though only large institutions capable of participating in the pre-IPO process will benefit. Wall street will lobby to adopt European-style rules where multiple-class stock structures are illegal. The FB IPO absolutely could not have happened if Mark Zuckerberg didn’t possess super-voting founder stock.