I don't like this attitude. Sending that letter out is the honest thing to do. If you're gearing up to try and raise money, that is some important insight, yo

I don't like this attitude. Sending that letter out is the honest thing to do. If you're gearing up to try and raise money, that is some important insight, your business is potentially in the balance right now. I've been trying to wrap my mind around the FB IPO for a while now. FB was ordained by the media. It was the next great Silicon Valley company, Zuck is the new Gates/Jobs/Dell/etc.. All the hype was about "biggest ever." There was very little real criticism, there were some doubters but nobody expected the stock to perform like this. FB was/is a legitimate Google competitor... I think in some circles people were skeptical about the value of social and its real 'value' but still, nobody was predicting this. It was going to climb up to $70 and then settle in around $45-$50, that's what everybody wanted and expected. To me, it shows that the investors have already closed their wallets. Maybe it shows something worse. Talking about it legitimizes the concerns people clearly have been having already but that doesn't mean they weren't there already or that it's suddenly worse. It may accelerate some things by making for less stupid people that aren't in the know but it was already happening. The stock market has done well the last 4 years but I don't know how many other indicators show that the whole economy is doing well and I think a lot of people (think not elite web hackers) would think or say we're still in the great recession, employment is still in the 10% range (maybe higher depending upon who's spin you want to take to heart) they're still sorting out mortgages and all that ilk, who knows how useful all the people coming back from the wars are I'm sure they've got some emotional issues but who knows when they'll surface, what percentage of college grads have no jobs? and then you've almost certainly got to unwind the Euro from Greece and who knows how that's going to work. Worse, if it goes pretty bad, then it's probably bad for the whole world and if it goes really well then the uncertainty could continue as there might be pressure to boot other countries out of the EU rather than bail them out.