Facebook's failed IPO illustrates the hubris and greed of the bankers that advised the company. Instead of pursuing a sensible investment strategy, they tried to cash in on the public offering of one of the world's most revolutionary companies.
Please forgive me for the blunt use of adjectives, but the Facebook experience leads me to the belief that bankers are stupid. The Facebook IPO was a great, unique, marvelous chance to clean up their image. After all, the most revolutionary website of the last fourteen years (Google was founded in 1998) was up for grabs. Banks could have enjoyed the marketing boost of helping little families own a stake of the blue brand, where everybody – be it the little daughter or even grandpa – joyfully spends large chunks of his or her spare time.