May 18, 2012 - The Billion Dollar Club Gets crowded: At least 20 closely held U.S. companies, backed by venture capital, are now valued at $1 billion or more; including the latest inductee, Pinterest. The online scrapbooking start-up, which launched in 2009, this week raised $100 million in capital at a $1.5 billion valuation despite having little revenue and no profits. Pictured above, Mark Zuckerberg of Facebook.
Today’s membership exceeds even that during the frothy days of the late 1990s dot-com bubble, when 18 such start-ups scored a $1 billion-or-higher price tag, according to an analysis by Dow Jones VentureSource (see graphic above).
With Facebook coming out today at $38 a share, add one more. It seems that we don’t learn from history and are headed for another crash. I would stay away from Facebook at all costs. It will initially rise, but then crash along with the rest of the market as Great Depression II sets in.
Follow the link below for the complete story on this historic “1929″ style event we are now in.
The Master of Financial Disaster