As Tech companies ’ market caps balloon to stratospheric levels, they are going the way of Wall Street. The do no harm company, otherwise known as Google, has poached a Wall Street Financial Engineer, Ruth Porat, who has been credited (partially) with the 65 billion dollar increase in Market cap of the do no harm company. Ms. Porat brought a very unyielding tape measure to trim costs. She does come at a bargain - just 70 million big ones, thank you.
Twitter is another tech Ghatotkacha (also known as baby giant), who courted and won over Anthony Noto from Goldman Sachs.
Another unknown (at least to yours truly), Airbnb, is slated to be valued at 25.5 billion. You read it right - billion with a b. Another wall streeter, Laurence Tosi, whose earnings gs were 15 million last year, has been wooed by this giant to be.
So dear readers, is this a sign of a bubble? Or do these finance bean counters deserve their loot.
Contents from July 27 WSJ.