Re: UKNM: QXL

[Stefan Magdalinski]

Sean Phelan wrote:

> 

> Yes, I am sure that, as a mould-breaking new mediah start-up, the people

> who understand Certificates are the same people that make the go/no go

> decision on the IPO.  I can just imagine the conversations...

> 

> Smart merchant Banker: "Well, now Freeserve is underwater we can't go for

> the full $500m, but if we can get out before the millennium then we are

> comfortable above $240m"

> 

> Banker thinks "Hm... we earn 7% of funds raised; it will close within 1999

> and that will push my annual bonus well into six figures..."

> 

> Venture Capitalist thinks "Hm; we own 40%; our stake will be valued at $100m;

> I'll have exceeded my target for the year and I'm on track to become a

> director with my own fund..."

> 

> QXL dude: "Hm, well the market fundamentals are good and we would all like

> to go into the new year as paper millionaires, but our Secure Certificates

> are still not working right, so we are going to postpone the IPO".

> 

> Venture Capitalist: "Mr dude, you've been working very hard... perhaps its

> time you took a non-executive role; why don't we take you out of day-to-day

> operations and let you concentrate on the big picture?"

> 

> VC and banker, together, "The IPO goes ahead".

> 

> No offence to Chetan or Tim; and DEFINITELY no reference to any real people,

> alive, dead or on vacation, and if anybody is interested in how these

> things happen, go to Multimap.com, click on the "BOL.com" icon in the

> top left hand corner, and buy three books:

> 

> "Burn Rate"


busted! I see your sly attempt to boost multimap's affiliate fee

revenue, and hence bring *your* IPO forward 6 months. I'll only

participate in this blatant scam if you give me some 10 shares of

multimap stock, for each time I click the link.


it's by Michael Wolff, by the way. and everybody should read it. twice. 


stefan


> 

> "The first $20m is always the hardest"

> 

> "The Nudist on the Late Shift"  by Po Bronson

> 

> Cheers

> Sean

-- 

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