SOX Causes Delay in Facebook IPO
Last Updated on Tuesday, 28 September 2010 06:23
Written by dbhalling
Tuesday, 28 September 2010 06:23
Peter Thiel, an early investor in Facebook, said that Facebook will not go public until late in the game. He explained that regulations such as Sarbanes Oxley are causing Facebook to delay their IPO. He talks about this at 5:10 into the Fox Business Network Video. The rest of the interview is well worth listening to also.
My book, The Decline and Fall of the American Entrepreneur, argues that SOX significantly undermined the financial capital on which technology start-up companies are built. SOX was only 60 pages long, the new financial reform bill is well over 2000 pages. Imagine the damage it will cause.
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