Joel Saget/Agence France-Presse — Getty ImagesFacebook pulled it off.As investors raced to get shares, the sprawling social network raised $16 billion on Thursday, in an initial public offering that values Facebook at $104 billion.The I.P.O. signals a rapid evolution for the company. In just eight years, Facebook has gone from a scrappy college service founded in a Harvard dormitory to the third-largest public offering in the history of the United States, behind General Motors and Visa.Investors, who are paying $38 a share for the offering, now consider Facebook more stalwart than a start-up. At $104 billion, the social network’s market value is higher than McDonald’s, Citigroup, Amazon.com and all but a handful of other American companies.“Facebook is here to stay,” said Navin Chaddha, a managing ... Continue reading →
(Photo: Melissa Hom/New York Magazine) Even comedians�who rarely shut up�had to surrender whenever Patrice O’Neal began to talk. He’s the guy they would call on the long drive home from Magooby’s Joke House who loved to discuss�at length�whether Jay-Z would ever cheat on Beyoncé, or the various options for black reparations, or the best adjectives for different smells of pussy. He was a master at introducing subjects that you never even knew you had an opinion about�like whether you’d be willing to have sex with a girl who had no nose. Even though O’Neal was usually doing 90 percent of the talking, listening had the feel of conversation, in part because he was famously picky about whom he’d talk to, and in part because he ... Continue reading →