Venture Pigalists

The ZNGA IPO debacle is the icing on the cake for a year that was plagued by venture capitalists and desperate underwriters stealing from investors via mispriced ipo’s. There is no difference between Goldman Sachs shorting CDS while selling them to clients and these upright walking pigs aka “venture capitalists” knowingly ripping off investors via absurdly priced ipo’s.

The henchmen at brokerage houses get the deals done, lured by concessions. From ZNGA to GRPN to LNKD to ANGI to AWAY to P to Z to RENN to YNDX to DANG to ZIP to FFN, the market has rejected these names and  have cast them aside into the dustbin of stupid things hated by all. Did the investment bankers, Goldman, Jefferies, Morgan Stanley, Jp Morgan and others do their due diligence? How did they arrive at such ludicrous valuations? Pray tell me, were the valuations proposed by the fucking slobs at the VC firms, trying to “get liquid” on the stupid people?

It’s a funny thing with these venture artists. Talk to them in private and they mock people who buy these deals, even late stage purchases on private markets. However, put them in front of some investment bankers and they have nothing but praise for their companies.  In other words, like thieves in the night, they are committing premeditated acts of theft, felonies, against people out of the loop.

See, people get lured into these names by their reputation. Everyone wanted a piece of GRPN and ZNGA because they were well known entities, being “hot tech companies.” However, what they didn’t expect was their fucking investment bankers to behave like boiler room stock brokers, circa 1995, by pricing the deal to fail.

I guess these banks are really desperate and will do anything to procure investment banking fees. However, shit like this is killing investor sentiment and will lead to the closure of the ipo market. Fucking asshats.