Facebook IPO Did Not Flop: Shows Silicon Valley's Finance Savviness

From Businomics Blog, "Facebook IPO Not a Flop" by Bill Conerly:

Is the Facebook IPO a flop? Not on your life. It’s a sign that Silicon Valley has gotten as smart about finance as it has been about technology. I like it.

The smackdown of Facebook comes from the lack of a price pop on the first day of trading, compounded by declines in the company’s stock price in succeeding days. This is not a flop from Facebook’s perspective, it’s a success.