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.