I have heard of short term memory, but this borders on amnesia. Were the buyers in this latest secondary transaction (Twitter at $10B) asleep during the Facebook IPO? Did they miss the part where lots of well intentioned "investors" bought Facebook shares at $80B, $90B, $100B, only to see the shares trade down to a fraction of that value? Did they somehow overlook the catastrophic secondary transactions that preceded the Groupon and Zynga IPOs? Don't get me wrong. This is not a commentary on Twitter as a company. I'm a fan of Twitter. I'm a big believer in Dick Costolo. And I have seen the ... Read More