Greed and Capitalism

What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.
- Milton Friedman

Thursday, February 2, 2012

Facebook Billionaires

Facebook Founders Strike it Rich - The Daily Beast:

"Going public is great news for Facebook's early investors—some well known, and some not so well known. The graffiti artist who painted the walls of Facebook's first office stands to make $200 million off the stock he took in lieu of cash. Sheryl Sandberg, Facebook's chief operating officer, has 1.9 million shares, but may get 38.1 million more according to the filing. That would make her one of a few women billionaires in Silicon Valley. Mark Zuckerberg's father, a dentist, will get two million shares for providing “initial working capital,” and Dustin Muskovitz, Zuckerberg's college roommate, will get 133.8 million shares. Facebook announced its $5 billion public offering Wednesday, which will likely value the whole company at $75 to $100 billion."



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Blogger Comment:
Obscene largess of Wall Street showered on Facebook founders and employees... do  you hear the Dotcom Bubble straining and ready to Pop again?






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