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FB Effect in Cupertino?

By LarryPatrickMaloney   Follow   Sun, 20 May 2012, 6:48pm   4,853 views   42 comments
In Mountain View CA 94041   Watch (1)   Share   Quote   Permalink   Like   Dislike  

Family and I drove through Cupertino today, and notice a gazillion For Sale Signs. I think people were holding back from selling, waiting for the FB IPO.

Well, the IPO happened, and I see a hoooo bunch o houses for sale.

Anybody else notice this in other parts of the BA?

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1. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

   3   6:28am Mon 21 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   30,000 people is nothing compared to the 1000 millionaires Facebook will make. We all now that everyone needs 300 houses when they make it rich. Also, in 6 months and FB is single digits, will the insiders be spending or frugal? hmmm

2. xenogear3 Follow Befriend 10 threads 419 comments

   4   6:34am Mon 21 May 2012   Share   Quote   Permalink   Like   Dislike   Facebook down 8% this morning. It is not just Facebook. There are lots Facebook similar companies are planing to go public if Facebook stock double or triple. Now the dream is over.

3. Goran_K Follow Befriend (4) 26 threads 1,566 comments Laguna Beach, CA Premium

   5   8:54am Mon 21 May 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   gee, I guess fundamentals do matter when it comes to valuations.

4. tiny tina Follow Befriend 2 threads 175 comments

   6   8:59am Mon 21 May 2012   Share   Quote   Permalink   Like (1)   Dislike   LarryPatrickMaloney says notice a gazillion For Sale Signs According to redfin.com there are 33 homes for sale in Cupertino right now. I guess we have different definitions of a "gazillion."

5. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

   7   2:08pm Mon 21 May 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Goran_K says gee, I guess fundamentals do matter when it comes to valuations. Nah man, that's the OLD paradigm. Profits don't matter now, with Web Economy 2.0! It's different this time.

6. Goran_K Follow Befriend (4) 26 threads 1,566 comments Laguna Beach, CA Premium

   8   2:27pm Mon 21 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   bmwman91 says Nah man, that's the OLD paradigm. Profits don't matter now, with Web Economy 2.0! It's different this time. I'm so glad people's memories aren't so short these days. Maybe we do have hope to return to some sort of non-bubble economy (I doubt it, but one can dream).

7. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

   9   9:35am Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   tiny tina says LarryPatrickMaloney says notice a gazillion For Sale Signs According to redfin.com there are 33 homes for sale in Cupertino right now. I guess we have different definitions of a "gazillion." People are now selling their homes on facebook and donating the 6% to the employees who bought homes in Palo Alto and are already underwater. ;)

8. Serpentor Follow Befriend 7 threads 438 comments

   10   11:00am Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   is the lockout period 6month still? Any bets on where FB stock is going to be in 6months? I'm guessing teens...

9. Goran_K Follow Befriend (4) 26 threads 1,566 comments Laguna Beach, CA Premium

   11   11:37am Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Teens would be a good guess since they are trending towards mid-20s right now. I guess some of these brokers aren't going to be going to the Hamptons for vacation this year.

10. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    12   12:09pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Sertpentor, I got an A- on my last Calculus exam...

11. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,614 comments Premium

    13   12:32pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   By this time next year FB will be delisted and Zuckfuck and a lot of his coconspirators will be facing securities fraud charges. Some will die mysteriously, a few taken out by professional snipers.

12. Serpentor Follow Befriend 7 threads 438 comments

    14   1:25pm Wed 30 May 2012   Share   Quote   Permalink   Like (1)   Dislike   wthrfrk80 says Sertpentor, I got an A- on my last Calculus exam... GTFO

13. Serpentor Follow Befriend 7 threads 438 comments

    15   1:28pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   damnit pic attach doesn't work

14. Patrick Follow Befriend (54) 5,240 threads 6,173 comments 46 male Menlo Park, CA Premium

    16   1:30pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Testing picture attachment... Seems to work. How does it fail for you?

15. Serpentor Follow Befriend 7 threads 438 comments

    17   1:32pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   I hit choose file, selected a gif, then upload image, then submit comment. Only my comment shows up. Shrug using chrome browser

16. Patrick Follow Befriend (54) 5,240 threads 6,173 comments 46 male Menlo Park, CA Premium

    18   1:43pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   When you hit "Upload Image" it should put some HTML in the comment box creating a link for your image. Does it do at least that much?

17. Serpentor Follow Befriend 7 threads 438 comments

    19   1:45pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   ahh.. no it doesn't do that.

18. E-man Follow Befriend (31) 34 threads 2,612 comments San Jose, CA Premium

    20   11:57pm Wed 30 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Serpentor says is the lockout period 6month still? Any bets on where FB stock is going to be in 6months? I'm guessing teens... My guess is low $20's. $22 to be exact. :)

19. mdovell Follow Befriend (4) 28 threads 776 comments

    21   4:34am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   The options indicate to me this will hit at least $24 soon The P/E ratio at least to me tells me that $8-10 is a good price. It's still way...way over priced.

20. FortWayne Follow Befriend (13) 107 threads 3,865 comments

    22   8:18am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Goran_K says gee, I guess fundamentals do matter when it comes to valuations. Fundamentals have a way of catching up eventually. Everyone tries to cash out before that happens.

21. Serpentor Follow Befriend 7 threads 438 comments

    23   8:49am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Any way to find out the avg strike price of fb employee options?

22. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

    24   10:41am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   I don't think that there is a strike price. They were given RSA's, not options. They get to sell at whatever it is valued at in ~6 months, as far as I am aware.

23. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

    25   10:57am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   mdovell says The options indicate to me this will hit at least $24 soon The P/E ratio at least to me tells me that $8-10 is a good price. It's still way...way over priced. I have an open order for my Mother (she wants some shares because FucBook is the only things she uses on the internet). I told her to sit back and I will get her some eventually. My buy price is $4.10/sh and I'll sit tight until I get it. :) They are a 10B dollar company. That from a dorm room is still a great story. 100B, Nope, sorry. Your not building cars, building phones, mining gold or oil. You are spreading gossip and pictures FCOL! At least LinkedIn helps people find work. Fucbook just sucks away your time.

24. Serpentor Follow Befriend 7 threads 438 comments

    26   11:02am Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   http://finance.fortune.cnn.com/2012/05/18/facebook-stock-spooked-taxes/ sounds like it'll be a race to see who can get out first. lol

25. anon12366 Follow Befriend (2) 61 comments Palo Alto, CA

    27   11:56am Thu 31 May 2012   Share   Quote   Permalink   Like (2)   Dislike (2)   No limit to Cali libkook baby boomer greed. First they outsourced high tech jobs for young people to third-world nations like China and India, now they've all voted themselves big salaries, benefits, and high real estate costs. They want somebody else to pay for their health care, retirement, and mortgage. It's "compassionate", and I must be a scumbucket for noticing their collaboration with the demoncratic party to steal from me and my generation.

26. Serpentor Follow Befriend 7 threads 438 comments

    28   12:15pm Thu 31 May 2012   Share   Quote   Permalink   Like (1)   Dislike   anon12366 says No limit to Cali libkook baby boomer greed. First they outsourced high tech jobs for young people to third-world nations like China and India, now they've all voted themselves big salaries, benefits, and high real estate costs. They want somebody else to pay for their health care, retirement, and mortgage. It's "compassionate", and I must be a scumbucket for noticing their collaboration with the demoncratic party to steal from me and my generation. How is this rant related to the topic and how is this only the "cali libkook" fault? Both side of the political spectrum are equally responsible for all the issues you listed. Some people just like to turn every topic into a political rant

27. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

    29   1:17pm Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Serpentor says http://finance.fortune.cnn.com/2012/05/18/facebook-stock-spooked-taxes/ sounds like it'll be a race to see who can get out first. lol I am trying to figure out what that article was talking about. As far as I am aware, employees' stock awards vested on 5/18. If it is like the RSU system everywhere else, you pay income tax that day, in the form of shares (say you get 100 shares & need to pay 45% tax...you are given 55 shares with the other 45 x $38 ending up on your W2 as paid income tax). So, unless some other system is at work here, employees already paid all of their taxes on their stock awards, and when the lock-up is over, they can sell. The only way they would pay more tax, and it would be capital gains, would be if they sold shares for more than $38. Otherwise, they can write-off the loss. That's how it works with my employer & stock awards. Now, if they had filled out their W4's such that no income tax is being withheld, then yeah, they are going to get raped when they sell their stock since their W2 considers N shares x $38 as wage income and they didn't pay tax on it back when it was actually worth $38.

28. Serpentor Follow Befriend 7 threads 438 comments

    30   1:57pm Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   I have to admit I don't understand how RSUs work in an IPO. I've only gotten them in public companies. So on 5/18, an x% of all VESTED RSUs are automatically sold to cover taxes and the proceeds from the sale are withheld? I assume then, those shares were part of the shares offered to the public?

29. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

    31   2:22pm Thu 31 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   Not sure about that either since I haven't participated in an IPO award program. I suppose that we'll find out soon enough. It seems logical that it would work the same way across the board since RSUs are RSUs.

30. CL Follow Befriend (12) 141 threads 1,367 comments Emeryville, CA

    32   3:48pm Thu 31 May 2012   Share   Quote   Permalink   Like (1)   Dislike   Real question is when will Patnet go public?

31. Serpentor Follow Befriend 7 threads 438 comments

    33   10:22am Fri 1 Jun 2012   Share   Quote   Permalink   Like (2)   Dislike   http://blogs.marketwatch.com/thetell/2012/05/24/facebook-groupon-haunted-by-lock-ups/ http://www.inc.com/eric-markowitz/facts-of-facebook-ipo-filing-that-will-boggle-your-mind.html "The lock-up. After an IPO, company insiders are generally prohibited from selling shares for 180 days. So they can't just dump their shares into the IPO. Facebook insiders are looking to get liquid much faster—their lock-up lasts only 90 days. Thank SecondMarket for that." soooo the lockup period is 90days vs the customary 6 months. August will be very interesting

32. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

    34   2:47pm Fri 1 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   CL says Real question is when will Patnet go public? After they do a hostile takeover of Fucbook, Twit, GroupOff, and LinkedUp. To me all 4 of these sites can just become part of the "Interesting Link" section of Patnet. That is about the extent of their value. In a tucked away corner where you have to play with the scroll bar to find them.

33. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

    35   2:49pm Fri 1 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Serpentor says is the lockout period 6month still? Any bets on where FB stock is going to be in 6months? I'm guessing teens... You mean the laid-off period? Yah, I think that is 6 months for Fucbook.

34. rufita11 Follow Befriend (3) 10 threads 171 comments San Ramon, CA

    36   6:26pm Fri 1 Jun 2012   Share   Quote   Permalink   Like   Dislike   RentingForHalfTheCost says mdovell says The options indicate to me this will hit at least $24 soon The P/E ratio at least to me tells me that $8-10 is a good price. It's still way...way over priced. I have an open order for my Mother (she wants some shares because FucBook is the only things she uses on the internet). I told her to sit back and I will get her some eventually. My buy price is $4.10/sh and I'll sit tight until I get it. :) They are a 10B dollar company. That from a dorm room is still a great story. 100B, Nope, sorry. Your not building cars, building phones, mining gold or oil. You are spreading gossip and pictures FCOL! At least LinkedIn helps people find work. Fucbook just sucks away your time. My mom uses it, but calls it "SpaceBook". I stopped correcting her. My favorite renames are "Freindface and Jitter" --IT Crowd

35. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,614 comments Premium

    37   6:48pm Fri 1 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   In the end, Zuckfuck will buy Monrovia and evade extradition to the US for securities fraud. His wife will behead him in his sleep after she finds out her signature has been forged on documents that would allow the diabolical fraud artist to hang her for his crimes. She'll post a four-hour video of her singing Blue Oyster Cult anthems while punching the disembodied head of Zuckfuck in the face. Her overwhelming popularity will provoke Obama to fire Biden and run in the general election with Mrs Zuckfuck as his VP. Romney will be crushed in the general, when it is revealed his wife, Anne, has taken a horse as a lover and is actually the father of three of Romney's alleged sons, explaining nothing so much as their rugged good looks.

36. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

    38   3:19pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Serpentor, I found some clarification for how the IPO/tax structure works. The shares actually vest at the end of the lockup. Taxes are paid that day on the RSUs, in the form of shares. If an employee had 10000 shares vest that day, and their income put them in the 45% tax bracket, then basically the employer would withhold & sell 4500 shares that would be paid as income tax, and the other 5500 shares would belong to the employee. They can do whatever they want with those shares, and when they sell them they would only pay taxes on any gains if the price was higher upon selling than what it was when they vested. This is exactly how my employer handles stock awards too. So, nobody at FB is going to get "stuck" with some absurd tax bill that actually costs them something other than free money.

37. LarryPatrickMaloney Follow Befriend (13) 60 threads 166 comments Mountain View, CA LarryPatrickMaloney's website

    39   3:49pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike   FB is priced at $27 per share. Doesn't look like the hype lived up to the hope.

38. bmwman91 Follow Befriend (8) 38 threads 1,606 comments Mountain View, CA bmwman91's website Premium

    40   5:28pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   LarryPatrickMaloney says FB is priced at $27 per share. Doesn't look like the hype lived up to the hope. Sure, but if you work there and have thousands of shares, free money is free money any way you slice it. Specuvestors are getting reamed, but that is the chance you take when you gamble.

39. Patrick Follow Befriend (54) 5,240 threads 6,173 comments 46 male Menlo Park, CA Premium

    41   5:34pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   LarryPatrickMaloney says and I drove through Cupertino today, and notice a gazillion For Sale Signs. I would totally love a photo of a bunch of forsale signs on the same street. I can put a circle around them if you send the photo and tell me where obscure ones are.

40. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,614 comments Premium

    42   8:03pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   APOCALYPSEFUCK isFrank Sinatra says In the end, Zuckfuck will buy Monrovia and evade extradition to the US for securities fraud. His wife will behead him in his sleep after she finds out her signature has been forged on documents that would allow the diabolical fraud artist to hang her for his crimes. This will only be the case if the Russian cashed out early enough that he isn't damaged by the inevitable collapse of the stock price and sends someone to go Scarface on Zuckfuck.

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