Categories
Business & Technology

Greedy bastards and Google maniacs

<![CDATA[After having had the opportunity to sell shares at the IPO, Google founders Sergey Brin and Larry Page, along with CEO Eric Schmidt, are planning on selling almost $2.5 billion in stock over the next year in order to “diversify.” It’s unconscionable that these guys are diversifying their portfolios at a time when they are […]

<![CDATA[After having had the opportunity to sell shares at the IPO, Google founders Sergey Brin and Larry Page, along with CEO Eric Schmidt, are planning on selling almost $2.5 billion in stock over the next year in order to “diversify.”
It’s unconscionable that these guys are diversifying their portfolios at a time when they are asking investors to join them for the long term and to exercise patience. The promises the company made to investors at the IPO are already being broken: The company would not provide guidance, but did last week when it said revenue would not grow as quickly as it has in recent quarters.
The Google bubble should burst on this news, but it probably won’t, because too many people want to believe this is a special company that exists beyond the rigors of the marketplace.]]>

2 replies on “Greedy bastards and Google maniacs”

This IPO was conducted to make google’s initial investors rich. Remember that they didn’t really need the money for their business? IPOs capitalize on people’s desire to make money off a successful company, but the real aim is to allow the founders and initial investors to make a lot of money.

Yep, I’ve been saying that on the Red Herring blog for a while, but think they should be castigated at each step along the dark path. At this rate, Google might pay a dividend in 2028, if it survives that long….