by Sixstrings » Tue 26 Jul 2011, 02:16:46
$this->bbcode_second_pass_quote('gollum', 'I')sn't that amazing in a sad way?
The only reason Zynga is worth $20 billion is because the Federal Reserve unleashed way too many free trillion$ into investor hands. Futures are up, cotton and real corn are up, and the money found its way into digital corn too.
The stock market is a bubble. Juiced up with printing press cash, and government is committed to guaranteed stock growth regardless of how much money printing it takes. This can't end well, but what do investors care.. there are billion$ to be had, right?
EDIT: and another thing.. these new companies of the future
don't employee anyone. It's scary. Zynga will be a $20 billion company but they're not serving the function that titans of industry used to -- provide jobs. Zynga employees only
1,200 people.
According to CNBC, the
Facebook IPO could top $100 billion dollars:
CNBCSo surely, a company worth 1/10 of a trillion provides good jobs for lots of folks right? Nope. Facebook only employees 2,000. That's a value-to-employee ratio of $50,000,000 per worker.
Google has a market cap of $199 billion, yet only employees 24,000.
Apple's market cap is $399 billion (

) and finally we find a company that employees people. Just not Americans.. they have 50,000 American employees (mostly the Apple stores), and
one million Chinese making the iStuff. Apple's Chinese suppliers pay their workers
four dollars and thirty-six cents per day. (source:
Happier Abroad)
Lastly.. not only does Facebook and Google hardly employee anybody, they don't pay any federal taxes. I don't know about Zynga, but if nobody else pays tax I assume they don't either.
Here I found an article (thanks to tax mooching Google).. Zynga wants to weasle out of San Francisco payroll taxes:
$this->bbcode_second_pass_quote('', 'S')AN FRANCISCO (MarketWatch) — Zynga Game Network Inc. said Thursday that it’s encouraged by discussions with San Francisco officials
about making it more financially attractive for the closely-held company to keep its headquarters in the city.
Zynga’s talks with city officials come as its peer, Twitter Inc., is poised to benefit from
legislation that could exempt the microblogging service from payroll taxes for new hires.
Marketwatch Ha.. a $20 billion company that only employees 2,000 people doesn't even want to pay a small city tax. If taxed, they'd have to find somewhere else more "financially attractive..", give me a break.