Lower the Bar

摘要

Here's a hot stock tip: Buy Facebook. Sure, the company's valuation has bounced around over the past six years, but now it's believed to be around $20 billion and likely to keep climbing. If you buy a chunk of Facebook and flip your shares in a few years, you could make millions. Oh, but wait: You can't. Facebook isn't a public company. The only people who can invest in it already are millionaires. The hot IPO market of the 1990s, which allowed Regular Joes to buy stock in new companies, has been replaced by a rich insider's club that trades in pre-IPO equity sales. The middle-class folks who daytraded their way through the dotcom boom are now locked out. And that's a problem.