If there’s one tech scenester not worried about Mark Zuckerberg taking his sweet time to IPO, it’s probably New York’s Barry Silbert. That’s because dotcom bubble déjà vu at the Palo Alto headquarters tends to translate into more business for SecondMarket, Silbert’s online exchange for shares in private companies.
Last year, Facebook shares from early employees (before Zuck limited equity to restricted stock that can only be sold after the company goes public) accounted for nearly 45 percent of all trades on SecondMarket. Today, the New York Times reports, about 100 early employees have left the company, in many cases opting to cash out while valuations are still stratosherpic. “If you’ve seen the world blow up once, you just don’t know what’s going to happen a year from now,” an anonymous former Facebook employee told the Times. Read More