Riches to Rags
from the where-the-insanity-leads-to dept
A quick little article that examines two of the biggest "overhype" stories ever. First it looks at TheGlobe.com and what happened to their two twenty-something co-CEOs (who originally seemed to be the only product the company produced). The stock has dropped to next to nothing, and the CEOs are gone. Then, it takes a look at VA Linux and its incredible moonshot IPO and subsequent purchase of Andover for $1 billion. Well, times change, and so do the terms of the deal, which has been renegotiated to ditch the $60 million in cash that was supposed to change hands. Also, due to changing stock prices the deal is now valued at a still silly (but slightly more reasonable) $300 million.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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