Facebook IPO day thoughts, mostly not about Facebook:
- The thing I love most about my current neighborhood? A farmer's market under my kitchen window every Friday morning. Always a nice way to start the day and the weekend, with plenty of salad stuff to last the week. When I do finally move, it'll probably be the thing I miss most.
- But this year I'm still here, the strawberries are in and the annual strawberry party is June 2nd!
- Weather's been varying between June Gloom and nice spring weather. Looks like some of the spring stuff in store for the weekend. Mountain bike is fixed up and ready to go!
- A good friend is going to Greece in a week. I fear she'll arrive just in time for the riots.
- I'm back on diet and exercise plan after a couple of weeks away from it. Already feel a little better. More on my journey to better health later.
- Speaking of which, just heard of my friend Toddo's scare this past week. Been there a year ago, though nowhere near as acute or immediately life-threatening a situation. Get well soon buddy!
- I shot some video of Emiko eating popcorn, potato chips and other non-cat items. She's weird, but I think it'll make for good viral cat videos. Maybe she can make me rich like Maru did for his feeders?
- Also have a bunch of helmet-cam video from my last ski trip that have to be edited and assembled. Coming soon to a blog near you.
I'm not much of an Instagram fan, as I find most of the photos and the effects to be rather cheap and predictable. But I've enjoyed the stuff Black Diamond has been doing with their Spring Instagram contest that ended this week. Might have to play with it a bit and join in next time they do one. It's a really cool use of the medium and not bad marketing.
- Instagram though isn't high on my priority list as I've been back with my Nikon after about six months of doing virtually nothing more complex than some cat photos on my iPhone. It feels good to be working with a familiar piece of equipment. I may lust for that Leica, but been working with Nikons since I was about 14 and when I put my hands on one it just feels right. Sometimes that matters more than anything else.
- I went through a period a while back during which I was doing a lot of target shooting. These days the opportunities come up infrequently and the interest has waned, despite my friend Dennis's encouragement. Probably time to sell some stuff. The gear is better off in the hands of somebody who would use it, not rusting in my garage. Besides, I'd like a cleaner garage.
- As to Facebook, it's sort of predictable. Lots of stock came to market at the high end of the range, everybody knows there's a huge amount of supply 91 days out and in the end it barely held above offering price. This one was just too big to get much of a pop and those who tried to trade for one were sorely disappointed.
- My best guess is that Facebook will break below the offer price in the near term, though I doubt it'll quickly go the way of Groupon. There's just too much stock available to be sold in the immediate future and the valuation is ridiculous (thanks Vitaliy for the always-welcome analysis).
- I've heard a lot of bitching about the troubles with order execution, threats of lawsuits, etc. Really people, loss of liquidity for a variety of reasons has always been a risk. You should have learned that one in '87, and certainly should have been aware of the possibility since the "Flash Crash" a couple of years ago. If you can't deal with that risk, you shouldn't be in the market. Liquidity and rapid execution are not guaranteed and never have been.

