To be determined at a later date. Yelp has gone public, and good for them that they have made so much money on the offering. However, this company won’t even be around in ten years. The tech highway is littered with wrecks and if we look at even companies like Yahoo, set us to solve a specific problem, they rarely, with the exception of Apple seems able to adjust and grow. The picture of the Yelp CEO caught my attention; in another context he could have been an Abbie Hoffman outside the stock exchange wanting to destroy the symbolic architecture of capitalism.
…Yelp, which turned down a $550 million bid by Google two years ago, brought in $107 million with its initial public offering.
The stock priced on Thursday night at $15 a share, a dollar above the top end of its expected price range.
Its shares surged from there, ending the day up more than $9 at $24.58.
Yelp is following in the footsteps of Internet companies like LinkedIn and Groupon, which spiked at their debuts — although some also quickly lost steam….
These kind of companies like Yelp, of which there are many, also remind me Robert Heilbroner’s The Wordly Philosophers which was read in economics. The Dutch tulip fad was an example of how euphoria for the trivial and inconsequential can get out of hand creating a huge economic bubble. Like what Yelp is and even Facebook will hit its iceberg probably sooner than later. But, the drive, energy and ambition of a Stoppelman is remarkable. A long time ago, one of my father’s employees had a son that was supposedly a problem student. He was a tall gangling kid and he wore a t-shirt that had Rich Griffin or Mouse Miller styled graphics on it, above which read “The Meek Shall Inherit The Shit” which seemed a profound juxtaposition if this boy was as delinquent in school as alleged.
…Seven-year-old Yelp, which offers customer-written reviews of everything from strip clubs to shoe repair shops, has yet to turn a profit.
Still, Yelp’s name-brand recognition, plus revenue growth of about 75% in 2011, helped spur demand, Morningstar equities analyst James Krapfel told the Daily News.“People look at that and they want to participate in a young company that has still has a market value of about $1 billion,” Krapfel said. Yelp had offered 7.1 million shares, and its charity, Yelp Foundation, offered 50,000.
The spike in the company’s stock price makes co-founder and CEO Jeremy Stoppelman’s 11% stake worth about $150 million. Some analysts, though, question whether Yelp, which boasts 25 million reviews, can compete if Internet heavyweights like Facebook and Google decide to muscle into the online reviews market.
Yelp gets most of its revenue from advertising by local businesses that typically don’t have big budgets, said Krapfel, who estimates the stock’s true market value is about $9 a share. Read more: http://www.nydailynews.com/news/money/yelp-ipo-scores-stellar-reviews-shares-spike-64-stock-market-debut-article-1.1032104#ixzz1o7Ev0Dkn
Some take the bible
For what it’s worth
When it says that the meek
Shall inherit the Earth
Well, I heard that some sheik
Has bought New Jersey last week
‘N you suckers ain’t gettin’ nothin’
Is Hare Rama really wrong
If you wander around
With a napkin on
With a bell on a stick
An’ your hair is all gone…
(The geek shall inherit nothin’)
You say yer life’s a bum deal
‘N yer up against the wall…
Well, people, you ain’t even got no
Deal at all
‘Cause what they do
They just takes care
of NUMBER ONE
An’ NUMBER ONE ain’t YOU
You ain’t even NUMBER TWO
Those Jesus Freaks
Well, they’re friendly but
The shit they believe
Has got their minds all shut
An’ they don’t even care
When the church takes a cut
Ain’t it bleak when you got so much nothin’
(So whaddya do)
Eat that pork
Eat that ham
Laugh till ya choke
On Billy Graham
Moses, Aaron ‘n Abraham…
They’re all a waste of time
‘N it’s yer ass that’s on the line
(IT’S YER ASS THAT’S ON THE LINE)
Do what you wanna
Do what you will
Just don’t mess up
Your neighbor’s thrill
‘N when you pay the bill
Kindly leave a little tip
And help the next poor sucker
On his one way trip. . .
SOME TAKE THE BIBLE. . .
(Aw gimme a half a dozen for the hotel room!) ( Frank Zappa)
The Gospel of St. Luke, which Obama cited as a call for action to alleviate the suffering of the poor, practically lionises the very condition he believes Jesus sought to eliminate. “Blessed be ye poor: for yours is the kingdom of God”, Jesus teaches in Luke 6:21-22. “Blessed are ye that hunger now: for ye shall be filled”. In the Sermon on the Mount (Matthew 5-7), it is stated, “Blessed are the meek: for they shall inherit the earth”. As Christopher Hitchens often remarked, what man of sound mind would want the meek to inherit the earth?
Since Christian doctrine makes a virtue out of poverty – both of mind as well as assets – it is no coincidence that the congregation is often referred to as a flock, a herd of submissive and mindless animals thirsting for guidance. And the United States is awash with televangelists, hucksters and drifters willing to do or say pretty much anything – no matter how offensive – in order to enlarge said flock and transfer capital out of their pockets and into the pastor’s own coffers, or create a personality cult.Read More:http://youngcontrarian.tumblr.com/post/17210333114/christianity-and-the-glorification-of-poverty