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Perhaps another approach would be for the entrepreneur to not take money from an investor with this question because it's clear that they don't understand the market they're getting themselves into. If the entrepreneur is just looking for "dumb money", then any answer will do so long as they say with conviction and believability ;)
Like you, I too am surprised that other than Google, no high profile deal has gone out using the auction model. While Henry is clearly right, one has to wonder why Linkedin's team, who as you have correctly assessed is very sophisticated, chose not to go that route. They were known to be a "hot" deal. Groupon, Zynga and Facebook, w/two of three of these already on deck for IPOs, are also "hot" so it should be interesting to see if any of them elect to retain value for their respective companies by using the auction model.
Toggle Commented Jun 5, 2011 on Wall Street Rip-Off of LinkedIn at allensblog
Congrats on this happy merger!!! This is a good merger for users. BTW, the video posted doesn't have any volume on this page or on YouTube :(
dave, could you provide a URL for Chris McDonough's post that you referred to, "To the smartest person in the room"? googled it, and chris, but no sign of it. a lil' help please :)