The Tycoon Playbook

Michael Lewis: Wall Street Made This Mess And is Making a Fortune Cleaning It Up

Michael Lewis: Wall Street Made This Mess And Is Making Fortune Cleaning It Up

Michael Lewis is always worth listening to. This is a 16 minute interview.

The message is that Wall Street makes fortunes making messes and then new fortunes cleaning them up afterwards. I think most of us have caught onto to this.

Breaking: Facebook finally finds its revenue model

It's been a long time coming but at some point you need revenue to justify your valuation.

Montreal spammer ordered to pay $873 million to Facebook!

WASHINGTON - Facebook welcomed on Monday a U.S. court ruling against a Montreal spammer ordered to pay 873 million dollars in damages for sending unwanted messages to users of the popular social network.

Max Kelly, Facebook's director of security, called the U.S. District Court ruling in San Jose, Calif., an "important victory for our users - and against spam and those who create it."

Judge Jeremy Fogel on Friday ordered Adam Guerbuez and his company Atlantis Blue Capital to pay 436.2 million dollars in statutory damages and another 436.2 million dollars in aggravated statutory damages for violations of the Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM). (Source)

That revenue has been a long time coming.