At last week’s D10 Conference in California, “disruption” was the predominant theme, according to The New York Times.
“Everything is being disrupted, including education, stock prices, business models and even our own industry,” said investor and technologist Esther Dyson. “It’s also clearly a world where you can’t count on anything anymore. Google, Facebook, Microsoft and others are simultaneously friends and enemies. There’s clearly a shift in their alliances.”
One such disruption is Facebook’s recent foray onto Wall Street: “Of course everyone agreed that the recent Facebook IPO, which came out of the gate at $100 billion valuation and just two short weeks later is painfully close to three quarters of that, will inevitably affect the industry for some time,” suggests NYT.
Co-founder of Freestyle Capital Josh Felser said that because of Facebook’s ongoing struggle, investors will be more cautious. “I think there is a fear that the path to outrageous public market valuations is more treacherous than we all thought. The IPO poster child, Facebook, has been a flop and there is definitely chatter that other IPOs are being delayed.”
Mary Meeker, partner at Kleiner Perkins Caufield & Byers, described the latest run of initial public offerings by tech companies as “compelling in market value,” but “not compelling in performance.”
“She cited Facebook, Zynga, GroupOn and Yelp, which are all trading well below their IPO price,” notes the article.
At last week’s D10 Conference in California, “disruption” was the predominant theme, according to The New York Times.
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