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The L.A. Times Names Its Favorite Flops of the Year 145

Posted by timothy
from the always-too-many-to-choose-from dept.
SternisheFan writes "Salvador Rodriguez and Deborah Netburn of The Los Angeles Times have a rundown of the top 10 tech gaffes of 2012. From their article: 'As 2012 comes to a close we take a look back at the biggest "oops" moments of the last year. Whether it was an advertising misstep (Facebook's "Chair" commercial), or a product released before it was ready (Apple Maps), or just an idea that was ill-received (homeless men as Wi-Fi hotspots), we tried to compose a list of the times when the major players lost control of the narrative. It's also a reminder that everyone makes mistakes--even exacting tech companies.'"
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The L.A. Times Names Its Favorite Flops of the Year

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  • by adibe (2480114) on Saturday December 29, 2012 @06:12PM (#42422325)
    So where can I find the video described at #10?
  • Facebook IPO (Score:5, Insightful)

    by Bizzeh (851225) on Saturday December 29, 2012 @06:14PM (#42422335) Homepage

    Facebook IPO wasnt a gaffe, it was a hedge fund scam. facebook was advised to give their IPO at a much higher value than they knew it could sustain, and the advisers hedged against facebook. made a lot of rich people richer, and fucked over some other rich people, and also fucked over some not so rich people.

    as for apple maps, that deserves to be number 1, why the hell did apple even bother to release such a poor piece of software...

    • Re: (Score:2, Informative)

      by UnknowingFool (672806)
      Um, Apple Maps fiasco wasn't about the software. The software works fine; the data behind the software is the problem. Google maps also had issues in the beginning until they spent lots of time and money on better data. Remember the war driving scandal with Google? That was when their mapping cars were found to be collecting Wifi data in addition to simply mapping streets. Maybe Apple should have relied on Google map data for another year (as they still had a year left on their contract) but the softwa
      • Re:Facebook IPO (Score:4, Insightful)

        by AliasMarlowe (1042386) on Saturday December 29, 2012 @06:27PM (#42422403) Journal

        Um, Apple Maps fiasco wasn't about the software. The software works fine; the data behind the software is the problem.

        So you agree with GP even as you try to contradict him/her. The software was the problem. Hint: software is more than just an algorithm expressed in a program; it's the data that the algorithm/program accesses, too.

        • Analogy: The problem with the Ford Pinto was its horrible engine design. Do you agree or disagree? Or do you point out the problem was in the design (and location) of the fuel tank? Software is more than algorithms but in this exact case the issue is in the data quality not the mapping software itself.
          • Actually the analogy works against you.

            Both Apple Maps and the Ford Pinto suck. Apple Maps suck because their data sucks. The Pinto sucked because of it's engine (and hideous design).

            IOW, both products were crap that shouldn't have been released, and once again you're pretending to argue with the OP while proving his point.
            • Both Apple Maps and the Ford Pinto suck. Apple Maps suck because their data sucks. The Pinto sucked because of it's engine (and hideous design).

              So what you are saying is that the NTHSA and many consumer groups wanted (and got) the Pinto to be recalled based on the engine? That Ford spent lots of time and money fixing the engine? Or did they focus on the fuel tank? In retrospect, the fuel tank problem wasn't as bad as it was made to be but the engine exploding due to a rear end crash wasn't the controversy.

              IOW, both products were crap that shouldn't have been released, and once again you're pretending to argue with the OP while proving his point.

              I am clarifying his point by providing sufficient detail. Details matter. After all if your next car is recalled due to a problem with a fue

            • I had a Pinto, and it's V6 cousin the AMC Bobcat. Seized the engine on the Pinto, was always worried about getting rear ended, and friends made fun of the Bobcat because a label next to the shift read something like, "Make sure lever is fully engaged in "Park". Vehicle may slip into reverse." If it it didn't lock into place with a 'click', I'd sometimes have to chase it down on foot.
          • Ford pinto is its a horrible car. Apple maps is its a horrible piece of software. Ford pinto = car Apple Maps = software Arguing details like some autist doesnt make Apple Maps a horrible piece of software.
            • I thought that on a site like Slashdot, geeks would understand the difference between bad data and bad coding. For example, I could argue that Java is a horrible language because it is interpreted, right? Facts and details don't matter do they?
              • And the rest of Slashdot assumes you would understand that the rest of the world is talking about the software product, not the source code we can't see anyway. It doesn't matter if the data or the software sucks. The end product apparently sucked. Without the ability to audit the code myself I'll just assume they both sucked. You are off on tangents that don't make sense. If Java was horrible (I, personally, think it is) what makes it horrible only matter to the person fixing it. It's just Apple, you

        • Re: (Score:3, Informative)

          by guruevi (827432)

          The thing is, Apple used the data from a 'reputable' vendor (TomTom). Nobody made any noise ever about stand-alone TomTom devices.

          Where I am and in most other places (North America and Europe), the data is as good as any (Google, Garmin, OSM or others) and you can find mistakes on any maps, heck, if there is a mistake in the data for any of the above mentioned, blame the government(s) because they are the ones that release the vector data for all streets in their jurisdictions. The biggest problems with it

          • by drinkypoo (153816)

            The thing is, Apple used the data from a 'reputable' vendor (TomTom). Nobody made any noise ever about stand-alone TomTom devices.

            Aren't there comparisons showing tomtom fucking up less on the same elements on the maps?

            There is a lot more POI data that Apple Maps is either missing or inaccurate and that is directly due to the TomTom data. I also have a Garmin device personally and the POI data is even worse than either the TomTom device or the Apple device, again, nobody has complained about that in years because the address (instead of the POI) usually gets you to the right place and who uses that silly POI data anyway?

            Certainly not me. I figured out how to load custom POI into my Garmin and that's what I do.

          • by AmiMoJo (196126) *

            The reason people don't complain (much) about TomTom data on other devices is because TomTom know the limitations and deficiencies of it and don't try to implement features that go beyond it's capabilities. For example TomTom's maps don't overlay with satellite data well, not least because a normal GPS receiver just isn't that accurate and official sources of road data are not either. Google automatically corrects the vectors to match the satellite imagery, so they are always in perfect sync.

            POI databases a

      • by Anonymous Coward

        > The software works fine

        What? You mean those weird bridges going up and down across a single span was a data problem?

        I see. How can it be Apple's fault ever?

      • The data behind Apple Maps is actually pretty decent at this point for most areas. There may be some that it's behind, but I'm not sure where that would be - almost all the early data gaffes appear to have been fixed.

        Google still has data errors also, of the same magnitude. Searching for "Airport" [flickr.com] in Denver does not list at all the main airport, Denver International Airport.

        The other issue Google has is it is way too eager to give you SOME result when it can't figure out what you want. So it makes up some

      • Re:Facebook IPO (Score:4, Insightful)

        by Teun (17872) on Saturday December 29, 2012 @08:23PM (#42423037) Homepage
        Uhhh, Apple contracted TomTom for the maps where they work fine, it really was Apple's software that doesn't know what to do with the maps.
      • by Patch86 (1465427)

        "Software" and "Data used by software" is a bit of a false distinction to most users. If the data is crap, the whole software package becomes crap. If Google's search engine was the best piece of software in the world, but the data was so crap that it couldn't return any results you actually wanted, then you would not be praising Google's search engine.

        The fact that Google's mapping software wasn't very good 10 years ago is hardly relevant. Nor is the WiFi scandal, unless you're suggesting that either Apple

    • Re:Facebook IPO (Score:5, Interesting)

      by Dogtanian (588974) on Saturday December 29, 2012 @06:43PM (#42422495) Homepage

      Facebook IPO wasnt a gaffe, it was a hedge fund scam. facebook was advised to give their IPO at a much higher value than they knew it could sustain, and the advisers hedged against facebook. made a lot of rich people richer, and fucked over some other rich people, and also fucked over some not so rich people.

      Well, this is what gets me about the "Facebook IPO was a failure" argument. An IPO takes place for the benefit of the existing investors and stakeholders, whether or not that happens to be at the expense of anyone buying in.

      Of course, normally one has to convince the would-be investors that it's also in *their* interest to do so, and obviously if you can be shown to have actually defrauded them, then that might not work out so well for you. But that doesn't change the basic principle- the people organising the IPO are doing so to benefit the existing stakeholders. From that somewhat amoral (but truthful) point of view, the Facebook IPO was a roaring success- for them.

    • Re:Facebook IPO (Score:5, Insightful)

      by hairyfeet (841228) <bassbeast1968@NOspaM.gmail.com> on Saturday December 29, 2012 @07:00PM (#42422579) Journal

      Meh the list sucks, no Lumia, no Surface, no Windows 8. When you look at how much money has been shat right down the drain launching those 3 products its just insanity and its pretty much agreed by most that all 3 are megabombs. Just look at the figures of the Surface, as low as 500k after massive advertising [bgr.com] and with Windows 8 the finger pointing has begun [tech-thoughts.net] with OEMs coming out of the woodwork to say Win 8 is a poor product (the latest is Fujitsu, I'd provide a link but its on Yahoo Finance which creates insanely long URLs) and Ballmer proving he's not afraid to go full retard by basically giving the finger to the OEMs and deciding to make overpriced laptops, phones, and desktops [bgr.com] so that if anybody doubted Ballmer's MSFT was just a poorly built Apple those doubts are over.

      I don't see how this could be anything but the #1 spot, we are talking billions of dollars wasted on products nobody wanted, retailers can't move the things and in fact the sales from Oct-Dec were down 13% over the same period last year and so far every indication is its Win 8 that kept those shoppers away, we are talking HP buying Palm levels of uberfail here folks. I believe history will look back on this and say this was when we saw that marketing droids simply can't shovel overpriced shit down the throats of consumers and get them to buy based on nothing but flashy ads, because 4 billion in flashy ads couldn't keep Lumia and Win 8 from being another Vista. Talk about a trainwreck, this deserves the "WTF were they thinking?" award of 2012, no competition came even close to this level of fail.

      • I want an MS Surface. But $200 is all I'm going to pay.
        • Re:Facebook IPO (Score:5, Insightful)

          by hairyfeet (841228) <bassbeast1968@NOspaM.gmail.com> on Saturday December 29, 2012 @08:53PM (#42423225) Journal

          Thanks as you just PERFECTLY illustrated the problem with Ballmer's MSFT! Ballmer has it in his head that the ONLY difference between a Walmart brand and a Macy's brand is the price, while being completely fucking clueless that for a brand like Apple it literally took decades to build up the brand identity and get the products perceived the way the are. A perfect example of the "Ballmer Disconnect" is this little gem from earlier this year when it was announced they were pulling the plug on Windows Home Server "We have all those features in Windows SBS now so its not that we are leaving the market, I'm sure everyone will just switch to SBS"...hmmm...lets look at the numbers, shall we? Windows Home Server? $40, and that's OEM retail price, more like $25 to the OEMs themselves. Windows SBS? $400!!!! And that is for the OEMs!

          This is why the Ballmer reign is gonna go down as a bigger disaster than the Pepsi guy at Apple, because while the Pepsi guy simply pout out too many similar products with price points all over the place Ballmer thinks he can slap a paintjob on a Pinto and it will magically compete with a Porsche. You see Windows 8 and Surface is NOT MADE FOR YOU the consumer, nope its made for WALL STREET, to please the stock jockies that love to see high prices as an indicator of a high end product. But that doesn't work if nobody buys the product and the consumer doesn't consider the brand worth the money, it would be like raising the price of coke to 1 million dollars for a 2 liter. Sure if they manage to sell one they make plenty of profits but when you look at the lost sales and the warehouses full of rapidly expiring products (because just like Cola PCs have a shelf life, nobody is gonna want to buy the old chips when the new chips come out, not without STEEP discounts) they end up losing their shirts. This is the exact same thing that Ballmer is doing and if you'll look at the last link he is going "full retard" by putting MSFT into the hardware business, selling grossly overpriced laptops and desktops as well...why? Well that what Apple does isn't it?

          If your customers won't buy the product as it is jacking the price 50% isn't gonna make it more valuable, its gonna torpedo it. Instead of cutting the shit out of the prices so they could get people to use Metro and the new Windows design they jacked the living shit out of prices (higher than an iPad? Are you shitting me?) and he is gonna fucking kill the company. I think the only real hope MSFT has is if the board quits smoking weed and fires Ballmer's fat ass and brings in one of the old guard, since Gates won't come back I'd try to get Allchin or Ozzie, and have them LISTEN TO THE CONSUMER and put out products that people want, not what Wall Street wants to hear.

          This is why I think Lumia, Surface and Win 8 deserve the top spot, as its a multi-billion dollar disaster that is a perfect illustration of Wall Street and Madison Avenue thinking over common sense.

          • by Anonymous Coward
            In hindsight, MS should have done what they did with the original Xbox and sold their tablets at a loss, flood the market and made them ubiquitous. Then make money on the accessories, apps. They were late to the mobile game, and needed to come out strong.
          • by fostware (551290)

            A perfect example of the "Ballmer Disconnect" is this little gem from earlier this year when it was announced they were pulling the plug on Windows Home Server "We have all those features in Windows SBS now so its not that we are leaving the market, I'm sure everyone will just switch to SBS"...hmmm...lets look at the numbers, shall we? Windows Home Server? $40, and that's OEM retail price, more like $25 to the OEMs themselves. Windows SBS? $400!!!! And that is for the OEMs!

            And to further rub salt into the wounds, they knobbled SBS like Apple knobbled OS X Server. For example, there's no in-house email in SBS 2012 or OS X Server 10.7+
            This forum post [overclockers.com.au] has a good comparison of licensing SBS 2011 over 2012
            In fact, compare the feature sets of previous versions and current versions of these two Server OSs and it's all about extracting recurring income through cloud dependence.

            • by hairyfeet (841228)

              Again another example of the "Ballmer disconnect", push products people don't want and prices they won't pay, push "buzzwords" like cloud and then make them completely undesirable with retarded prices and licensing schemas designed not to let the customer buy what they need but to wring every last cent out of every property, and then be SHOCKED! Shocked i tell you, when the stock tanks and the products go down in flames.

              Mark my words fostware, if they don't give Ballmer's fat ass a good kicking the next 3 y

            • And to further rub salt into the wounds, they knobbled SBS like Apple knobbled OS X Server. For example, there's no in-house email in SBS 2012 or OS X Server 10.7+

              I have no idea what you're talking about and suspect you may not have any idea either.

              Mac OS X 10.7 and greater have postfix as part of the distribution. Maybe I don't understand what you mean by "in-house email". What do you mean by "in-house email"?

      • by mianne (965568)

        I know this is /. and all, but could you consider R(ing)TFA?

        Lumia is #4 on the list and Surface is #7. Granted, the LA Times must have a very lucrative advertising agreement with Microsoft, that their angle was about Oprah touting the Surface... from her iPad.

        Though I can agree with you that failing to even mention Windows 8 was an awful oversight. I was somewhat dubious about it from the get go, and upon release figured it's yet another ME or Vista. But I saw the Surface as a train wreck in the making from

        • by hairyfeet (841228)

          I did RTFA but they fucked up by splitting them, that would be like giving one slot to laptops and another to desktops, it made no fucking sense. the Lumia/Surface/Win 8 trio of fail was all under ONE umbrella and that was Ballmer's "high prices and cellphone UIs equal Apple"" delusion. All three were advertised by the same marketing groups, I don't know how many ads I saw pushing the three as a coherent strategy, lets face it it was three sides to the same die and that was the whole "We're hip now so buy o

      • by argStyopa (232550)

        I think the fact that nobody's buying Win8 is less of a "Flop of the year" and more of a "pretty much the same as everything since Win98 except perhaps Win7".

        My point is that 'flop' probably implies surprise. Nobody who watched Idiocracy, and then saw the Win8 UI has been surprised that consumers have pretty much been running directly in the opposite direction.

    • Re: (Score:2, Informative)

      by sottitron (923868)
      I think that people keep forgetting that Google Maps on the iPhone does turn-by-turn driving directions now. I think this is the #1 reason Apple put their maps on the iPhone. Google wasn't going to put turn by turn directions on the iPhone if they weren't prodded.
      • Re:Facebook IPO (Score:5, Informative)

        by iserlohn (49556) on Saturday December 29, 2012 @07:22PM (#42422689) Homepage

        By all accounts, Google was not *allowed* by Apple to release a version of Google Maps that was Google branded. Google was willing to compromise by offering a non-branded version that collected more information from iOS users than Apple would like to allow. That was the impasse that led Apple's ill fated venture into GIS.

      • Indeed, the greatest success of Apple Maps was getting Google to finally release a function version of Google Maps for the iPhone. It's so much better than the service I used to use for turn by turn directions.

    • by jelizondo (183861)

      You must be European; in America POS does not translate into "poor piece of software", it means "poor piece of shit"

      Hope you're enlightened now

    • by Hentes (2461350)

      I think it was just simple bargaining, Facebook started with an unrealistically high price so that they don't leave any cash on the table. The end price is still higher than what those shares actually worth so I would say that the tactic was succesful.

  • Seriously? (Score:5, Interesting)

    by Anonymous Coward on Saturday December 29, 2012 @06:14PM (#42422339)

    They manage to not put Windows 8 on that list? It deserves the top spot by far. And I say this as a C# dev!

    • Most likely because of the MS monopoly, few consumers have a choice. OEMs will install Win 8 on most new PCs; some OEMs may be forced to offer Win 7 downgrades if the uproar is loud enough. Now the Surface tablets may be a flop as consumers when presented with the choice between Android, iPad, or Surface most likely are picking iPad and Android over Surface.
    • by linebackn (131821)

      Cue all the Microsoft shills posting crap like "I've been using it for months and it works great for me and I'm not going to support my statements with any kind of reasoning. A 3 year old can learn to use it, get used to it you Luddite! Now, where is my check, Balmer?"

      • No way, dude! It's paradigm shifting! You just don't get it. What, are you like a 80??

      • I've been using it for months and it works great for me and I'm not going to support my statements with any kind of reasoning. A 3 year old can learn to use it, get used to it you Luddite!

        • The problems I've read about Windows8 is A) They don't have a touchscreen monitor, and B) Expect a more professional non-smartphone acting interface. From what I read you can revert to a more 'normal' setup with a button or two, it's still like an improved Win7 OS.

          And aren't MS products still #1 where security is concerned? I'm asking for when I get another computer going I don't know whether to get a Win7 or Win8.

          • by Ash-Fox (726320)

            Shame you did not read my responses.

            • Shame you did not read my responses.

              Just went through some, you say it took you 15 minutes to figure 8 out. If I'm buying new, I do want the best. My dilemma is I've got a few thousand rare songs on 9 Win7 dvd restore disks, so I'll be looking for that os, then I'd pay for the upgrade.

    • As in the final nail in Ballmer's coffin.

    • I'm surprised that Windows 8 didn't make the list, too. When you have store clerks swaying customers towards Windows 7 equipped laptops to avoid the Windows 8 "experiment", that's got to indicate some sort of major failure.
  • They are no longer free and require registration, unless linked to from Google News.

    • by SternisheFan (2529412) on Saturday December 29, 2012 @06:40PM (#42422483)
      1. Apple Maps fiasco How bad was it when Apple replaced Google Maps with its own mapping system on iOS 6? Well, a Tumblr blog showing Apple Maps' biggest fails emerged days after the release, and Apple chief executive Tim Cook issued an apology and suggested iOS 6 users download alternate mapping tools. Then in December, Australian police accused Apple Maps of stranding motorists in a national park, shaming the company once again.

      2. Path privacy breach It all started when Arun Thampi, a programmer in Singapore, blogged that the app for the social network Path was downloading his entire address book—including names, emaill addresses, and phone numbers--without asking his permission. The tech blogs took the story and ran with it, and before long, Path had a major publicity issue on its hands. Eventually, company founder Dave Morin issued an apology, and updated the app so users can opt in or out of sharing their contact list.

      3. Facebook IPO When Facebook went public in May, many people bought its stock thinking they’d strike it rich quick. Many thought the IPO would be the most successful since Google went public in 2004. After a few hours of gains, the stock slide back to its opening price, but concerns over Facebook’s position on the mobile platform kept the slide going for going for the next few months.

      The stock seems to have finally stabilized and has made gains since bottoming out, but it’s still more than $10 below its $38 opening day price. 4. Nokia's fake photos Nokia impressed quite a few people when it announced its latest flagship phone the Lumia 920 in September. Specifically, a Web ad showing the phone’s video recording and night-photographing capabilities made the Lumia 920 noteworthy. Unfortunately, Nokia’s positive press coverage went away when it was discovered the footage and photos used in the ad were not actually taken by the phone. In the end, Nokia had to issue an apology and label the video as a simulation.

      4. Nokia's fake photos Nokia impressed quite a few people when it announced its latest flagship phone the Lumia 920 in September. Specifically, a Web ad showing the phone’s video recording and night-photographing capabilities made the Lumia 920 noteworthy. Unfortunately, Nokia’s positive press coverage went away when it was discovered the footage and photos used in the ad were not actually taken by the phone. In the end, Nokia had to issue an apology and label the video as a simulation.

      http://edition.cnn.com/2012/12/27/tech/web/top-tech-stories-2012/ [cnn.com]

    • An easy way to get around the LA Times Paywall and similar ones is to just select Private Browsing. Then you can read all you want. Assuming there is something worth reading.
  • by Stormwatch (703920) <rodrigogirao&hotmail,com> on Saturday December 29, 2012 @06:23PM (#42422389) Homepage

    Okay, its japanese release was in december last year, but I think it still counts. Darn thing can't even outsell the PSP!

    • by Osgeld (1900440)

      and A lot of that has to do with how sony treated the PSP, that was an expensive toy that more hardware revisions and new connectors than quality software (endless amounts of shit and shovel-ware) I got a psp fat, and they are not getting a second check from me

  • by tuppe666 (904118) on Saturday December 29, 2012 @06:37PM (#42422469)

    There is no shortage of these lists.
    International Buisness Times http://www.ibtimes.com/biggest-tech-flops-2012-top-5-failures-facebook-ipo-microsoft-surface-977488 [ibtimes.com]
    Think Digit http://www.thinkdigit.com/General/The-5-biggest-tech-failures-of-2012_11866.html [thinkdigit.com]
    Read Write http://readwrite.com/2012/12/14/top-10-epic-tech-gadget-failures [readwrite.com] ...
    Why pick the one that is designed for a tablet..or one that doesn't mention Windows 8; Windows Phone 8...or Surface.

  • 4G is missing. LTE (Score:1, Interesting)

    by Bizzeh (851225)

    4G was supposed to be a high speed standard that allowed all users with a 4G enabled phone to get those high speeds. but, turns out that there are at least 3 specifications in use, and major manufacturers are picking sides (apple with LTE), making your new phone incompatible with your current network, forcing you to switch.

    iphone5, i wouldn't put it on as a flop, but still an embarrassment, an embarrassment that apple assumed that their customers were stupid enough to buy the 4S from them again, just becaus

    • The internals to the iPhone 5 are different from the iPhone 4S. Big deal the outside still looks the same. Who cares if the body looks the same or different? it's a nicer phone than the one before it(which was pretty nice to begin with).

      • Car analogy. It is like buying the next year model of your favorite car, that regardless the engineering differences, gets the same gas mileage/performance at the previous years model. Except for in terms of a car, the lifetime of which it exists matters. In the case of a cell phone, it is a disposable computer
        • But the iPhone 5 gets better performance. The CPU in the iphone 5 is faster with a better graphics part. Plus it does LTE.

          The only thing the iPhone 5 really could've used is NFC.

    • Most upgrades to the iPhone 5 are from the 4, not the 4S.

      That said, the 5 is a lot faster than the 4S, plus it's a different body.

  • I think it's ironic that a journalism flop like the LA Times has the guts to call anything else a flop. I cancled my subscription to that rag years ago. These dinosaurs should be allowed to go extinct.

  • by Animats (122034) on Saturday December 29, 2012 @07:46PM (#42422811) Homepage

    The consensus in the SEO industry is that Apple bought all low-end data sources for business data. Somebody thought they were saving money.

    Point-of-interest map data wasn't that great, either, so presumably Apple bought low-end data there, too. Map data cleanup is expensive and labor-intensive. Because business info isn't a substantial revenue generator for Apple, it's not surprising that Apple cut costs there. Over at Apple, business info drives search and ads, so it's crucial to the revenue stream.

    The reverse is true for phones and tablets - Apple makes most of their money from phones and tablets, while for Google the whole Android thing generates a small fraction of revenue.

  • The media really is evil. Actually, by design. It's an evil business. Any business which produces physical things that enable or improve life must have waste. Such business must take natural resources (which have no use) and turn it into something useful. News business just has to talk. When there a true danger, the "real" news businesses are often too late to cover it. So they must constantly invent reasons to complain. The ones which don't invent reasons to complain simply go out of business. One
  • Missing -- Knight (Score:4, Informative)

    by istartedi (132515) on Saturday December 29, 2012 @08:46PM (#42423177) Journal

    They should have Knight Capital [wikipedia.org] on the list. They probably thought it belonged in the finance category as opposed to tech; but it was a tech problem. They also could have put HFT in general on the list, of which Knight is just one example.

  • The Facebook IPO was a _huge_ success.

    When a stock goes up and stays up following an IPO that means the company screwed up pricing their shares, raising less cash than they could have for a given dilution and/or unnecessarily devaluing investors' shares.

    Facebook did it right.

    • You are acting like a stock sale is to generate cash for a business so they can invest it in improving their business generating a profit which is then shared with the share holders.

      COMMIE! Everyone KNOWS a IPO is there to allow people to buy an insane amount due to being first in line and then selling it on to suckers... eh people who also want to sell it on to the next line of suckers. Speculation is the name of the game kid. Investment is for socialists.

      The IPO was a success AND a failure. Some bought

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