Facebook is for the weak, mindless, masses.
Individually, people can be clever, but together they are thick as crap.
Elevation Partners, the private equity firm backed by bad-backed U2 frontman Bono, has stumped up $120m for just over 0.5 per cent of Facebook. The deal values the dominant social network at $23bn, and takes Elevation Partners' total stake to 1.5 per cent, having invested $90m at a $9bn valuation last year. Reports earlier …
..is that Joe Bloggs in the street doesn't go onto the world stage banging on about how we should all do more for charity whilst making nice little nest eggs.
How about stick 10 million in the bank and dish out the other £110 million, or is that not enough to live on these days?
Here is a challange then.
I will donate 95% of my free monthly money & all my savings for one year if Bono does.
Money meet mouth.
It’s a matter of context, Bono complains about the Irish government not giving enough money to the third world and fist chance they get U2 move their copyright holding operation to Holland because they can pay less tax on it.
The only good thing about Bono hurting his back is that it will be a while before he can climb up his own arse again….. Well maybe not.
>fist chance they get U2 move their copyright holding operation
That's a rather simplistic rant. First off U2 is not only Bono, he personally might not have had any say in the matter. Second U2 as a group of people might not own a controllinng interest in the copyright of their own songs.
"Bono's fund could use a hit. It sank hundreds of millions into Palm's attempted revival, which ended in a fire sale to HP this year."
Gladdens my heart to know this. Thank you for pointing this out, and bringing some badly needed joy to an otherwise sombre day.
A successful person so let's slag him off, what makes this story even more of appealing for the disgruntled saddoes of the green-eyed monster religion is the added target of facebook.
The blokes worth a fair bit, he's got a 1.5% stake in facebook, it's hardly going to break him and if it does pay off he'll be worth quite a bit more. Why should it fail because he has invested in it. Previous bad investments don't indicate anything, he's not running the company in any way. Investments are a risk, you win some and lose some, all that matters is that the wins out number the losses.
As for AC @ 10:44, you don't know how much Bono gives financially, neither do I. What I can see is that he gives up his time which I'm damn sure in monetary terms costs him more than you or I could give.
For just €2.99 a month, you can give hope to the ears and eyes of the poor and misfortunate of the developed world. €2.99 will buy a half-decent CD single by a non-preachy recording artist, alleviating the sensory torture that is U2.
Join us. Together, we can Make Bono History!
Credit where it's due I reckon; he should be applauded for investing in the technology sphere. Okay, it's just Facebook, but it IS a fairly major piece of social software and if it DOES pay off, it might show that net applications can be viable and encourage more investment.
Besides, it's not like he's Rupert Murdoch or anything.
What else should he do with his money? At least it's not going up his nose!
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