The catalyst for the crash seems to be the IPOs of Groupon and Facebook. The IPOs were initially greeted with fanfare and pageantry and then BOOM! CRASH! They resulted in a botched IPO and accounting issues. And now we have a giant mess sitting in our laps.
As you all know, I have been chatting a lot about social media, and now it seems that the conversation has taken an interesting turn, a turn that could equal $16 billion as Facebook goes public. There is a ton of press covering this IPO as everyone ponders…
As a recent victim of one of these unintended consequences, identity theft, I can tell you that trying to fix the problem FAR exceeds the efficiency that was initially created. By the way, my problems were not caused by a local hooligan but by a VERY sharp hacker (most likely tens of thousands of miles away) that helped himself to ALL my personal information.