So much for Silicon Valley's latest get-rich-quick scheme. Facebook CEO Mark Zuckerberg has cancelled a plan to let employees cash out their shares early. In August, before the markets started to melt down and with Facebook worth $15 billion on paper, Zuckerberg unveiled a plan to let employees sell a small amount of their shares — no more than $900,000 or 10 percent of their stock holdings, whichever was less.
Conventional Valley wisdom: The chaos in the public stock markets won't affect private companies, right? Wrong. In August, LinkedIn had set plans to let employees sell some of their shares to investors. Interest in the company had b... Read Post
Chamath Palihapitiya, the founder of the venture capital firm Social+Capital, has quite a resume even by Silicon Valley’s rockstar CEO standards. At age 26, he became the youngest VP in AOL’s history. Later, he spent a year at Mayfi... Read Post
Suddenly, even a $4 billion valuation for Facebook seems generous. Valleywag's Owen Thomas: Facebook CEO Mark Zuckerberg has cancelled a plan to let employees cash out their shares early. In August, before the markets started to mel... Read Post