"People in the know" valuing companies. Apple’s options oops.

by David Spark on August 7, 2006

Business Week is getting a lot of flack for its cover story about local boy Kevin Rose’s Digg.com and other young Web 2.0 entrepreneurs. A main point of contention is the claim that Digg is worth $200 million according to “people in the know.”

Listen up budding journalists. If you’re looking to value a company, simply ask someone who is smarter than you to make a guess, and then instead of using their name, refer to them as “a person in the know.” Who would have known that Business Week would be using the same Rolodex as the National Enquirer.

Apple costars with CNET in the latest installment of “Oops, I Mis-Valued My Options.” Apple says investors should not trust any earnings since September, 2002.

While Apple suffered a 5% dip in its stock price as a result, announcements from this week’s World Wide Developers Conference in San Jose may cause it to bounce back. Rumor sites predict the release of the Mac Pro, an Intel-update to the PowerMac line.

Also in San Jose this week, check out the ZeroOne festival of art and digital culture.

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