Is the Facebook IPO Pointless?

Check out this interesting article in the Financial Times by John Gapper:

Facebook ought to ditch its public offering

According to Gapper, who has read the prospectus, Facebook is flush with cash. It is, he says, “a veritable cash machine.”

Gapper says Zuckerberg should call the whole thing off:

“Its sole tangible purpose for the IPO proceeds is to meet a tax obligation that will be triggered by going public.”

Read the full article here.

Intelligence Study Links Low I.Q. To Prejudice, Racism, Conservatism

“By Rebecca Searles

“Are racists dumb? Do conservatives tend to be less intelligent than liberals? A provocative new study from Brock University in Ontario suggests the answer to both questions may be a qualified yes.

“The study, published in Psychological Science, showed that people who score low on I.Q. tests in childhood are more likely to develop prejudiced beliefs and socially conservative politics in adulthood.

“I.Q., or intelligence quotient, is a score determined by standardized tests, but whether the tests truly reveal intelligence remains a topic of hot debate among psychologists.

“Dr. Gordon Hodson, a professor of psychology at the university and the study’s lead author, said the finding represented evidence of a vicious cycle: People of low intelligence gravitate toward socially conservative ideologies, which stress resistance to change and, in turn, prejudice, he told LiveScience.”

Read the full article here.

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