Facebook buys Instagram

Oh sweet irony - Kodak files for bankruptcy in January, and Instagram is bought for a billion dollars in April. I know their businesses aren't the same, but it is still an interesting statement on old world vs. new world (I'm pretty sure Instagram isn't even two years old).

I can see a bunch of Kodak Executives sitting around the boardroom, perplexed, asking each other "So they built this app for the iPhone, and just sold the company for a billion dollars?"

Facebook buying Instagram for $1 billion in cash and stock

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RIP Mark Haines

There is not much I like about CNBC...in fact, I haven't watched it in years. But Mark Haines was a reason I watched when I did. He was hard-hitting, didn't take any bullshit, yet also seemed to be a likable guy if you ever got past the gruff exterior. He was a true journalist.

"Cary Grant once told me I was his favorite reporter. Clearly the man was highly intelligent."

RIP Mr. Haines - you were a class act.

edit - this is a good article from Forbes..."Why CNBC's Mark Haines Was Special". At the end of the article is the Erin Burnett tribute, where Mark shows his softer side.







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Was LinkedIn Scammed?

A good article from The New York Times:

"There is nothing wrong with a small “pop” in the aftermath of an I.P.O.; investors, after all, don’t want to buy a stock that is going to go down immediately. But during the Internet bubble of the 1990s, the phenomenon of investment bankers wildly underpricing I.P.O.’s so that money could be diverted to favored investors got completely out of hand — stocks would sometimes rise 500 percent on the first day. It was obscene."

Read the article here.

On a personal note, thank you to everyone for your support and kind messages. They are very much appreciated.

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1/12 of the world is on Facebook

And last month, 25% of America's Internet page views were on Facebook. Amazing, and staggering. This is a good article to read.

Mark Zuckerberg: Person of the Year 2010



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An open letter to Kellogg's

I don't smoke marijuana, but I do think it is idiotic that it is illegal. Joe Rogan - as usual - is spot on with his letter to Kellogg's. But as a general rule, Joe Rogan is usually right...and I don't just say that because he once commented on this blog.

Dear Kellogg’s,

I’m writing this letter to express my disappointment in your company in firing Michael Phelps as a spokesperson for your products because he was photographed while enjoying some marijuana.

I respectfully would like to communicate my opinion on this matter because I think it’s of great public interest.

First of all, although it is true that Mr. Phelps broke the law, I think any reasonably intelligent person would admit that it’s one of the most fucked up and corrupt laws that we have today in this country. Marijuana is relatively harmless and certainly far less dangerous than a host of other things that are not only legal but also readily available, like alcohol and prescription drugs. The only reason it remains illegal to this day is because it’s a plant and you can’t patent it and control it’s sale, and because if it were legal it would greatly affect the demand for a host of prescription drugs that rake in billions of dollars each year for pharmaceutical companies.

That’s it.

Marijuana has never killed anyone EVER in over 10,000 years of use. We’re not protecting people from themselves, we’re not saving the children - it’s just a horribly illogical law that is in place because of corruption and propaganda.

The fact that it’s against the law is just a disgusting reminder of how retarded our system is, not a reasonable reaction to a proven threat to society.

Read the entire post here.

note - I found this on jon's stuff...

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Inspiration for a new week!

I just watched the 60 Minutes report on US Airways 1549, which crash-landed into New York's Hudson River on January 15, 2009.

It was an amazing piece that covered the incident and reunited the passengers with the crew and Captain Sullenberger who saved 155 passengers and quite possibly 1,000s of people on the ground.

It was inspirational and helps put life in perspective - I recommend everyone check it out.


photo source


Go make some good trades and I will post charts over the next day or two.

note - the follow-up piece on Coldplay was great too!

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