Facebook makes a lot of money slush around in the Valley. So, if this stock price holds, it will probably affect the whole Valley. For sure those 250k engineers just slammed their checkbooks shut. You don't want to buy a house as much when you've just lost 20% of your collateral. And those people are in lockup for probably a week so they can't sell yet.
Plus, Facebook is tearing the shit up out of Menlo Park. They have blocks ripped up over there. And Facebook gives a lot of money to other tech companies to sponsor their trade shows.
It will be very interesting to see what happens from here. And I think Facebook isn't going to be the only company caught in a downdraft this earnings season. I have two more companies on my list. One is a car company. One is a chip company.
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Some people were suggesting that if you took the needle off a syringe you could use it as a straw. ;) The city hands those out for free. The little ikeman's in SF are funny.
ReplyDeleteIt's honestly the first time I've ever wanted the Americans with Disabilities to sue the shit out of someone. Those a-holes will sue for anything and normally I think they could do things without trying to crush a business, but that just isn't their style. So... let the cities die on this hill.
Meanwhile in The Capital of Texas from which I am a refugee ...
ReplyDeleteAustin's so-called "Equity Office" wants to rename the city.
I don't know you anymore, Capital of Texas Currently Known As Austin ... and if this bullshit bureaucracy has its way, I really won't know you anymore.
Instead of tearing down Confederate monuments, I propose adding a new one to General Jubal Early, the man who helped Lee lose the war for the South.
Naturally, the "Equity Office" bureaucrat tards will accuse me of wanting to Make Austin Confederate Again. :-)