Investors went nuts over LinkedIn's IPO today—it more than doubled to close at $94.25 per share. What might you take from this? "Quit your job, move to Silicon Valley, and start a venture to compete with LinkedIn," writes Brett Arends at MarketWatch. After all, this madness signals that "the new dot-com mania may have some way to run." How else to explain why LinkedIn, which is, after all, a glorified resume site with modest revenue, could be valued at $10 billion? That's b-as-in-boy billion.
Arends notes that the valuation is 660 times greater than the company's net income of $15 million last year. Apple, by comparison, trades at 16 times earnings. "Cash in while you can," deadpans Arends. "Resume-site.com? Resume-world.com? Resumeszone.com? GoDaddy says these domain names are all free, for just $12 a month. Or pick some goofy name out of a hat. But make sure to get out in time." These bubbles tend to go pop after a while. (More LinkedIn stories.)
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