AS THIS newspaper went to press, Facebook was about to become a public company. It will be one of the biggest stockmarket flotations ever: the social-networking giant expects investors to value it at $100 billion or so. The news raises several questions, from “Is it worth that much?” to “What will it do next?” But the most intriguing question is what Facebook's flotation tells us about the state o

A third industrial revolutionAs manufacturing goes digital, it will change out of all recognition, says Paul Markillie. And some of the business of making things will return to rich countries OUTSIDE THE SPRAWLING Frankfurt Messe, home of innumerable German trade fairs, stands the “Hammering Man”, a 21-metre kinetic statue that steadily raises and lowers its arm to bash a piece of metal with a ham

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it. To put the prob

Monzo has announced its 2024 financial results, revealing its first full-year pre-tax profit. The company also confirmed that it’s in the early stages of expanding into the broader European market… Last week, TechCrunch paid a visit to Apple’s Austin, Texas manufacturing facilities. Since 2013, the company has built its Mac Pro desktop about 20 minutes north of downtown. The 400,000 square foot fa

Happy Saturday, folks, and welcome to Week in Review (WiR), TechCrunch’s newsletter that covers the major stories in tech over the past several days. I feel inclined to begin this edition with a

The 2024 election is likely to be the first in which faked audio and video of candidates is a serious factor. As campaigns warm up, voters should be aware: voice…

CNN MoneyがFacebookの幹事獲得を巡って投資銀行間でフィーの値引き合戦になっていると伝えています。 通常、アメリカのIPOは調達金額の７％が引受手数料として差し引かれます。だから例えばIPOで１億ドルの新株を売った発行企業が実際に手にするのは9,300万ドルなのです。 この７％というスプレッドは投資銀行にとってたいへんオイシイ比率であり引受け案件をどれだけ獲得できるかがブローカレージのビジネスの採算性に大きく影響してきます。 逆に言えばIPOする企業や投資家にとって７％分だけ損するわけです。しかし実際には値決め価格でIPOを買った投資家がいきなり７％安い値段で取引開始になるというわけではなく（＊）、企業のバランスシートに載るキャッシュが１億ドルではなく9,300万ドルになるだけなので、投資家からすると「目に見えない」ディスカウントということになるのです。 往々にして投資家がこ

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances. “Our situation is extremely serious,” the postmaster

The war on inflation has not yet been won, but central bankers are winning. And the negative impact has not translated into lower economic growth or recession.