find that difficult to judge that a failure. so while it may be true the ipo was overpriced, overhyped, excessively laden with expectations that it would go up 20, 30%, you still have a company that created a vision that became an actuality that nearly a billion people are using that has a market cap larger than most companies ever will. that s not the heart of what people are asking. all of those things are true but it is not the heart of what people are asking. i m trying to point out that it should be the heart of what we re asking. there are very few bright spots in the american economy today. x the innovation that silicon valley and some others have. this was probably overpriced. if you read two months ago about what the valuization should be, it is much closer to what it is trading at today than what it opened at on friday. the mistake on much more on wall street s part, how it valued the company of how invest many bankers tried to get the most money as quickly as possible
look at a car because they think it is cool versus click online to buy a car online. this is an untested series of models. and i think wall street overhyped it but i don t think this is a facebook problem. the other topic, house speaker john boehner was asked about the co-founder of facebook moving to singapore to avoid paying taxes. let me play it. okay. we don t have it. to be fair on this, boehner certainly jumped on the band wag often he is one of the co-founders who said he would mover away. this is introduced by chuck schumer, the democrats. this is a high partisan about an american entrepreneur renouncing his citizenship in order to avoid taxes. while look it is fair game to criticize someone for doing this, for being venal, the other part is he will be barred from ever entering the united states strikes me more as childish than policy instrumental. we do live in a free country. part of living in a free country is people can get up and leave as opposed to what we saw with