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As Facebook (FB -3.4%) sells off on news director/seed investor Peter Thiel has cashed out in a...

As Facebook (FB -3.4%) sells off on news director/seed investor Peter Thiel has cashed out in a big way, VC Fred Wilson defends Thiel's actions by arguing investors are obligated to return capital to clients as quickly as possible. But as Dan Primack points out, most of Thiel's sales involved his personal stake in Facebook. VC Ann Winblad also defends Thiel, but thinks Facebook and other public companies are better off not having VCs such as Thiel serve as board members.
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Comments (7)
  • XRTrader
    , contributor
    Comments (609) | Send Message
     
    FB - if you had turned 500k into nearly 1 billion in less than 10 years (and it represented the majority of your personal wealth), wouldn't you cash out and diversify? He's keeping 8 million shares...
    21 Aug 2012, 01:49 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    They should thrilled to be selling at any price over single digits imo
    21 Aug 2012, 01:55 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8609) | Send Message
     
    Thiel's cost basis?

     

    $0.004 per share.

     

    Yep.

     

    And YOU wouldn't sell?
    21 Aug 2012, 02:55 PM Reply Like
  • DanoX
    , contributor
    Comments (2668) | Send Message
     
    Zuckery continues.
    21 Aug 2012, 05:21 PM Reply Like
  • DanoX
    , contributor
    Comments (2668) | Send Message
     
    Two new terms have been coined in the english language in recent times, if you have been taken on the stock market you have been "Zuckered", or if Bankers, Hedge Funds, or Analysts continue to pitch bad investments or make merriment, The term "Zuckery" can be said to mean that the con continues on, where are the "Muppets"?
    21 Aug 2012, 05:40 PM Reply Like
  • Prognoticator
    , contributor
    Comments (8) | Send Message
     
    I hear Peter is going to use that cash and pour it into his pet project on promoting less college and more "high school education is enough" campaign. Is there a way to cash in on young entrepreneur camp?
    22 Aug 2012, 03:37 PM Reply Like
  • Will Ray, Jr.
    , contributor
    Comments (21) | Send Message
     
    I forgot what happens if the stock price goes to zero. Does anyone recall what happens to a public company at that point? They usually end up a part of another company at a single digit price.
    26 Aug 2012, 02:11 AM Reply Like
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