LinkedIn investor thinks Wall Street shafted him

PayPal founder and significant investor in LinkedIn as well as Facebook, Peter Thiel thinks Wall Street got the price of LinkedIn wrong when it went public.

We'd have to agree with Thiel. But rather than suggest it was underpriced as Thiel does, we'd say it was over valued - probably by a factor of about ten.

Thiel whined to the Financial Times that Wall Street gets its knickers in a twist when an IPO goes through the roof: “Whenever a stock price goes up as much as it does with LinkedIn, you assume the IPO was mispriced and the bankers screwed up. There continues to be a certain antipathy by Wall Street banks toward Silicon Valley companies where they don’t quite believe it’s real.”

Thiel thinks the Wall Street banks that took LinkedIn public underpriced the IPO by about $200 million.

We think Thiel should keep quiet and go count his small change.

LinkedIn is probably the most over-valued IPO ever. The site is a haven for suckers who think they're joining some sort exclusive business club. In reality those that make the most noise on the site are the type of self-promotional tosspots who fill their CV with horse cobblers and make up grand titles for themselves - like 'president' or 'head of technology resource management'.

I guarantee that 99 per cent of those getting an invite to 'connect' on LinkedIn do so. They connect - and then that's it - no further communication necessary. They then look at their colleagues or adversaries to see how many connections they have and then fire of missives to drum up some new ones.

"Yay! I've got more connections that Tim in accounts!"

What you gonna do with them?

"Eh, DO? I got them is all. They'll get me a job one day."

Jimmy Hill they will.

Twitter? Yeah, good fun, short, sweet, slag people off, 'out' philandering footballers - Great.

Facebook? OK, catch up with ex-girlfriends, send them a message when the missus runs out on you, browse semi-pornographic pictures of your drunken chums, say too much, lose your job.

LinkedIn? Boooring. Load of old bunkum.

The fad will die out, the site will get desperate and start to flog off your (untrue) data to, well, Google, probably. It's already started to churn out lists of other people's tweets. Er, isn't that what Twitter is for? And 'news' updates from the Mickey Mouse outfit are clogging up inboxes throughout Webland. Isn't that what we're for?

Those that doubled their money in 24 hours by flogging their shares straight away are the only winners in the whole kerfuffle - along with prior investors like fat-wadded Peter Thiel.

The rest of you holding shares in the outfit? Hahahaha! That bubble's gonna burst again as these over-priced fads crash and burn!

Sell! Sell. You sucker!

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