I applaud Google founders Larry Page and Sergei Brin for their principles and their courage in standing up to Wall St. in setting their IPO terms. There will be no feeding of IPO shares to "special friends" who flip them for an instant profit. There will be no games played with analysts in providing guidance about quarterly earnings.
It's too bad it took nothing less than the leverage of these presumptive billionaires to make this happen. This is the only way Wall St. would listen.
I truly hope they are able to continue to manage the company for innovation in the face of inevitably mounting financial and competitive pressures.
What I hope even more is that their bold moves will stimulate a whole series of debates about the ways in which venture capital and Wall St. do and don't work to promote the development of technology, like Google's, which genuinely serves people's needs.Posted by email@example.com at April 30, 2004 08:03 AM