This is a story about the future impact that Waterloo can have on the country and maybe even the world. But it’s NOT about Blackberry. Crazy, you say?
Today, on a beautiful Friday afternoon in late September – what could be one of the last great summer-like days of the year we did somethign crazy. We said “to heck with that” and headed indoors to a crowded lecture theatre in the Engineering building at the University of Waterloo. It was worth every minute. Continue reading
A post has been making the rounds on the internet titled, “It’s Becoming Clear That No One Actually Read Facebook’s IPO Prospectus Or Mark Zuckerberg’s Letter To Shareholders.”
I had to admit that I was on the people who hadn’t read it. Of course, why would I? I wasn’t going to be buying any Facebook shares.
I didn’t need the prospectus to know that the hype was not justified. No matter how I looked at it, I couldn’t find a rationale that supported the price.
Where do I start?
If you understand what is going on in the world of on-line advertising — if you did the slightest bit of homework — it would be obvious that it would have taken a small miracle for Facebook to deliver earnings that would justify the sale price. The only people who were going to make money on this deal were the original shareholders and those same people who gave you the mortgage backed securities debacle that nearly torpedoed the US economy.
Or even without understanding the industry, if you looked at the fundamentals alone — earnings versus share price — there was no possible support for the share price.
The only explanation I could find for the price? P. T. Barnum once said, “There’s one born every minute.” I wasn’t going to be part of it. So I paid no attention.
And frankly, I wrote off Zuckerberg.
That, as it turns out, was a mistake. Continue reading
I got your recent email. The chirpy tone and bringing me up to date with what was happening made me feel strange. Didn’t you know that we’ve broken up? Didn’t you get the message?
When I stopped coming around, didn’t you ask why?
Now, how do I say it? Let me try this.
Get lost. Scram. Get out of my life. Don’t let the door hit you on the way out.
It’s sad that things have come to this. We used to be so close. I was your number one guy. You remember the pet name you called me? Elite. I simply called you Air Canada but I did it with such affection. Continue reading
Everyone wants that perfect team. We are taught from the time we start in business that the secret to project and corporate success is getting the “very best” people in the right positions. The “dream team”. Get that right and you are 90% of the way to giving the competition a real butt-kicking.
That’s what we imagine. Excitement builds. We’ll get the best people, from the best schools, people who are “up and comers”! Get me the “A” performers! No “dead wood” on this team!
What a load of crap. Continue reading