Bad News About My Tech Conference, PENETRATE!

The Stock Rabbi writes about the lessons of the Talmud and breakout stocks.  Follow him here.

In hindsight, I knew I should have held my first annual PENETRATE! conference before the whole Facebook megillah. (Yes, I named it PENETRATE! because Disrupt! and Activate! were already taken, what am I gonna do?)

But there’s no sense in crying over spilt borscht, the Facebook mess has severely dampened enthusiasm for social media and tech conferences now that we all know that there actually is a ceiling over these types of investments.  Pre-Facebook, startups were basically worth whatever amount you could dream up.  Billions and billions in “valuation” could be added as easily as they could be thought of, nothing meant anything!  Like an anthology of Thomas Friedman columns about the Middle East, the whole valuation process was a bucket full of schmutz with no meaning whatsoever.

But that’s over now, now we have reality and people don’t seem to be as energetic about it all, not like they used to way back in, well, April.

And so that is why, with a heavy heart and a persistently aching goiter, I must sadly announce that I am refunding all ticket purchases and canceling the 2012 PENETRATE! conference.  The eight of you who bought tickets (we almost had a Minyan!) will be receiving a full refund in the form of some US dollars and a little bit of leftover Hanukkah gelt.  Deal with it.

What I regret most is that no one will get to see the improvements we’ve made to the app and home page of my social shtartup, Kvetchr – the Twitter for Complaining.  You would’ve loved it!

You’ll also not get to see the beta version of my new link shortener, Circumcise.

It’s just as well I suppose, the lack of public scrutiny will allow me to work on this stuff in private.  Now that the grandkids are at Camp Costafortune for the summer, I’ll have lots of time on my hands.

Thanks, Facebook.

Read Also:

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Tags: $FB

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