When’s the last time you heard a venture capitalist say that when companies go public they begin “a Bataan death march,” and engage in a “manifestly” unfair game that’s reminiscent of organized crime? Well, those are a few of the provocative comments that Elevation Partners co-founder Roger McNamee — a major media and tech investor — made today on Bloomberg Television. He’s a big backer of Facebook and gushes that its founder, Mark Zuckerberg, is “The One…The best I’ve ever known.” (By the way, Elevation named itself after a U2 song, and the group’s lead singer, Bono, is a member of its investment team.)
Facebook IPO Is “A Huge Risk” Investor Says: Video
By DAVID LIEBERMAN, Executive Editor | Wednesday March 28, 2012 @ 1:58pm EDTTags: Facebook, Mark Zuckerberg
This article was printed from http://www.deadline.com/2012/03/facebook-ipo-is-a-huge-risk-investor-says-video/
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Sounds just about right. He def knows what he’s talking about.
Smarty McSmarterson.
Elevation taking credit for Facebook is laughable…they bought it on the secondary market with very little rights, etc. Good for them riding a wave (but that is not PE…it was a glorified passive public equity investment). RMc is a huge self promoter, with Elevation being a massive disappointment as a PE fund.
Hasn’t Elevation lots a LOT of money thanks to crappy investments? Let’s just all blame that annoying and pretentious hack Bono.