Why Facebook should ditch its IPO

Facebook doesn't need the money from its IPO and Zuckerberg seems to view shareholders as a necessary inconvenience. Why the IPO?

At long last, Facebook has filed for its initial public offering, the most eagerly-awaited event inSilicon Valleysince Google went public in 2004.

Having read the prospectus, with its details of how profitable and cash-rich the social networking enterprise is, may I suggest that it calls the whole thing off?

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