Roger McNamee, co-founder of Elevation Partners, appeared on Bloomberg TV’s “Money Moves” with Deirdre Bolton today and said that NASDAQ and Morgan Stanley conduct in Facebook IPO is “criminal” and exposed “extreme corruption.”
Besides the smashing the Facebook IPO Roger actually has some great advice. Specifically, Mobile computing is changing the web in a big way and the old rules are changing. The power is moving away from the middleman. McNamee says build tools not web sites. Be a value investor not a momentum investor. He hints to the bubble popping. (Side note: I have to get him on SiliconANGLE.tv for a real chat).
“The first thing is that it has ended the possibility of anybody else going public for probably the rest of the year. I think they may be doing us a favor. The second thing is it exposed in my mind the extreme corruption in the capital formation process and really in Wall Street itself. NASDAQ’s behavior in this in my mind borders on criminal.
To learn more and to read the entire article at its source, please refer to the following page, Roger McNamee of Elevation Partners calls NASDAQ & Morgan Stanley Criminals in Facebook IPO Debacle- SiliconANGLE.com