“Steve Wozniak says he will buy Facebook stock when the social network launches its initial public offering, irrespective of the price of the shares,” Aabha Rathee reports for Wall St. Cheat Sheet. “‘I would invest in Facebook,’ the Apple co-founder told Bloomberg TV in Sydney. ‘I don’t care what the opening price is.'”
Rathee reports, “Facebook is selling 337.4 million shares to the public, priced between $28 and $35, while hoping to raise $11.8 billion through the offering scheduled for May 17. That will make it the biggest IPO for an Internet company. The price also gives Facebook a market value of about $96 billion.”
“Wozniak also said he thought Facebook’s founder Mark Zuckerberg had a perfect blend of business acumen and technical ability,” Rathee reports. “‘I was thankful to have a partnership with Steve Jobs and I see Mark Zuckerberg closer to the combination of us,”’ he said.”
Read more in the full article here.
MacDailyNews Take: Leave it to Woz!
Ignorant
AND with that, I no longer have to listen to a word Woz says, poor attention starved-has not built anything of merit since the early 80’s woz.
You did not need to listen to Wozniak even long before those words. He was never conceptually minded enough to have “vision”. So he can not assess anyone in those regards.
(Not to say that Wozniak is bad or unworthy or anything — just to say that on most topics his opinion has no value.)
and there is our portion of Woz Stories for monday!
(somebody has to bring him to a very far away and secret place for ever!!!)
You’ve got to love Woz, but you also need to take what he says with a grain of salt. Sometimes a bucket of salt. And sometimes just smile and ignore what he says all together. Sadly it seems like everything he’s been saying lately falls into that ‘ignore’ category. 🙁
I’ve heard he was never the same after the plane crash in 1981.
Form is temporary, class is forever — untempered, one would hope, by even a plane crash or a little woodstock indulgence.
Yeah, M. Zuckerberg has created a platform that’s totally comparable to PC revolution/innovation (against conventional wisdom of the time), introduced paradigm shifts after paradigm shifts (i.e. GUI + mouse, touch and gestures, OOP in NeXT kernel etc.), desktop publishing, foster movie magic/creative rush, music consumption, parades of most commercially successful industrial design innovations in history and the list goes on.
I guess, FB trumps all that as it affords us to “like” people like Steve Jobs and gab about it until someone blocks us.
Dear Woz, have you noticed that whenever Jobs ever talked about you, seems mostly on stage, he only had fond things to say?
Let’s stop this incessant need to reduce the man’s legacy, or drag him into every conversation and controversies. He’s gone. Let’s keep things classy. That’d be more in line with a true legend.
Yep – I agree….
Invest in Facebook as a big *SHORT* !!!!!
wowza
with $50 billion in previous private equity raised through Goldman Sachs, the Facebook ponzi scheme PR offensive is on. They need to sell those shares to keep the pyramid scheme going long enough to get the original investors paid. What is the ratio of that class of shares to the IPO shares?
Is Facebook just a fad like every other social network we’ve seen in the past… myspace… friendster… 6 degrees?
I’d sorely like to see myspace arise from the ashes, with even more customizable page options.
Sadly, well said. A lot of little guys are going to be hurt once Facebook goes public. Unwittingly, they have been seduced by the hype and will pay a hefty price. The winners will be Zuckerberg and his cronies, along with the chosen few from Wall Street who got cut in for the IPO shares at steeply discounted prices. To pay for all this, the investment houses are superheating the stock’s opening price so that the fat cats can cash out at a handsome profit.
And who will pay for that? The little guy.
Tulip bulbs, anyone?
Nothing like pissing your money away. Suckerburg is nothing like Steve Jobs. Never will be.
Neither Mark Zuckerburg nor Steve Wozniak are fit to be mentioned in the same sentence with Steve Jobs, much less compared to him. What a shameless self-promoter the Woz has turned into!
You gotta remember that this is a guy who was in a pretty bad plane crash at one time. Significant injuries to his brain.
Think Bob Dylan’s motorcycle crash. Compare before/after, major achievements, both parties.
It’s the only reasonable thing that I can think of that causes him to make some of the weirdest statements to date.
“Zuckerberg like a combo of Jobs and me”
I have a lot of respect for Woz. Yet that statement is absolutely ludicrous. I respectfully disagree with Mr. Woz. He is nothing like Steve Jobs nor Woz. Nothing!
Yeah, I thought that statement was a bit over the top as well. Woz has more geek intelligence and inventive genius in his little pinky than Zuck has in his whole body. And comparing Zuck to Jobs is just a laugh.
As usual Woz just trying to be kind and complementary I think. But a bit overboard on this call.
I think we old Mac people know. Unfortunately the younger iHaters are going to run with this like gold. lol
I wouldn’t buy FB stock with someone else’s money.
Still holding the AAPL I bought in 2003, though….at just under $11/share (which is STILL more than FB is worth, IMHO).
FaceBook is nothing but the dot-com boom revisited…..just wait two years for the implosion.
“Leave it to Woz”… To play Segway polo and eat the last doughnut.
Woz, are you saying your work is crappy, cuz If thats the case, why is the mobile app so crappy?
I’ll buy it too.
As a short.
Woz, you’re an engineer, not a visionary. That was Steve’s job, who could take an itch and turn it into a very profitable reality. FaceBook only makes people lose their inhibitions stupidly and in turn people post comments and photos they would otherwise only have shared with their closest friends, for all the world to see and read. All this at a cost of their jobs, future jobs, marriages, friends, privacy and family not to mention young people that have taken their own lives because of this “sharing” with FaceBook.
AGREE. I have witnessed major family arguments over what has been put up on Facebook in a heated moment. Facebook makes people want to air their worst sides to the world. And yes it does harm kids, because young kids can be publicly cruel and Facebook kicks that up a notch. Plus the teenagers do not realize the garbage they post today is going to affect their ability to get a job in a few years. I hate Facebook.
…SHORTING
Last week Facebook issued a “profit warning”, a week before its IPO.
“Analysts said Facebook was effectively warning investors that it would miss its estimated revenue and profit targets for the second quarter and rattle potential investors at a key point during the IPO roadshow.
Facebook went some way to try to remedy the problem on Thursday by launching a mobile app store to promote games and other software that directly boost the group’s revenues.”
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9258915/Facebook-issues-profits-warning-as-users-switch-to-mobile.html
Fuckerberg = mute idiot savant in a hoodie.
Steve Jobs = live wire, onstage presenter extraordinaire, mover of mountains, tech visionary, founder of,the largest capitalised company on the planet.
Fuckerberg comes as close to Steve Jobs as Microsoft’s lowest peon is to Steve Ballmer, in other words comparing a gnat with a giant.
The Mute Idiot has made made something that used by hundreds of millions all day, long created millions of job and even new industries regarding services, books, courses, and is now making a lot of people very rich that will in turn stimulate the economy, with more investments in new start ups.
He’s far outdone Job’s when Job’s was his age and is richer than Job was when he died. Let’s see what he’ll do by the time he’s 50 and what you’ll do other that attack people that have done more than you.
And the truth is Job, was mean, a tyrant, and an excellent pitchman and Apple while they make great product take other people ideas and improves upon them. And they have not had an Original Idea Since WOZ make the first Apple. Everything else someone else had already done. The Mac a Xerox OS clone, the Ipod was not the first MP3 player. They made a better smartphone, but were not the first.
WOZ was was…
Now where’s Bongo?
not to mention the outright thievery of the Zuckster. You might quote Steve Jobs’ “great artists steal”, but cutting out your co-creators from the business is just sheer greed. Fuckerberg is pathetic, conniving, sly, and limited in vision. Hope that covers it.
dan
Woz has the mega bucks to not have to care how high the opening stock price is to buy it.
Tulip bulbs anyone?
Woz. What a teddy bear of a guy. A geek’s geek. A hero to Mac users. Sad to say, he’s the last person I’d turn to for investing advice. Especially on anything to do with Facebook, which is perhaps the most over-hyped IPO I have ever seen.
If there was ever a poster child for cynical stock market manipulation, and perhaps the biggest investor fraud in recent memory, Facebook is it. At the moment, the shares are over-subscribed by the big investment houses. The only issue that’s flared up is that of Mark Zuckerberg ruffling feathers of an analyst by wearing a hoodie on their IPO roadshow.
What’s lost amid the hype is the recent revision to Facebook’s earnings projections and significantly revised increase in operating costs. Growth may be flattening out just as Facebook goes public, costs are rising, and when the numbers are laid out, by comparison, Apple would need to generate 2.3 TRILLION in earnings to equal the P/E ratio that Facebook will have on the morning the stock goes public.
That does not qualify as a screaming buy. It’s a warning to any level-headed investor that they won’t make their money back.
So what does this tell me? That Wall Street has collectively decided to superheat the price of the stock the second it goes public, cause a general frothing for shares so that as the big boys sell out and cash in, the little guys will rush in and cover their profits by foolishly buying the available shares at insanely inflated prices.
In short, if you’re one of them, prepare to drop your trousers, grab your ankles and let Mark Zuckerberg pleasure himself at your expense.
Or, you could wait until the Teflon that coats anything having to do with Mark Zuckerberg finally wears off, and the stock’s price drops to meet its fair value. That’s what I would do. It might take a few months, but the party will eventually end, and the superheated IPO price will drop.
Facebook will make money. It will generate cash from advertising and app commissions, along with other ways that the company will be forced to monetize itself to satisfy the greed of Wall Street. I’m not sure that it will grow at the pace of Google following that company’s IPO, but Facebook was deemed too important to fail by powers that be a long time ago. It’s the perfect honeypot for exploiting information about you, information you voluntarily posted, which when linked with other data sources, has basically allowed corporations and governments access to a dossier about you that could eventually have profound consequences for you. There’s money to be made in all that.
But right now, if you are lured into the Facebook IPO, you will be taken to the cleaners. And sadly, Steve Wozniak will be one of them.
Steve Jobs on his worst day would never have allowed the mess that is Facebook’s interface to ship. It is closer to MS Bob than anything Apple has ever released.
The problem with most of the absolutely asinine anti-Woz comments is that most of you probably weren’t even born yet when he and Jobs changed the world. Jobs was indeed brilliant, but so was Woz and without him Jobs would not have had shit to sell. The lack of respect here is just baffling.
Not a good week for Woz.
What does Zuckerberg actually MAKE?
I don’t ‘buy’ anything Facebook. I also DON’T NEED Facebook. It is entirely free and disposable. What does that say about its actual value?
At least Google have an indispensable search engine they can fall back upon when their other rubbish crashes and burns.
I suspect the Facebook stock value circus is going to be hilarious. “Free show! Free show! Ring side seats for everyone!” 😉