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	<title>Comments on: Internet Investors: Beware of the Proxy Valuation</title>
	<atom:link href="http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/feed/" rel="self" type="application/rss+xml" />
	<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/</link>
	<description>By Bill Gurley</description>
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		<title>By: Martha Kortkamp</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-16</link>
		<dc:creator>Martha Kortkamp</dc:creator>
		<pubDate>Tue, 31 Jan 2012 08:00:38 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-16</guid>
		<description><![CDATA[Asking questions are actually fastidious thing if you are not understanding anything fully, except this piece of writing offers pleasant understanding even.]]></description>
		<content:encoded><![CDATA[<p>Asking questions are actually fastidious thing if you are not understanding anything fully, except this piece of writing offers pleasant understanding even.</p>
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		<title>By: &#187; Bill Gurley Explains How Twitter Will Rule The World And Why Groupon Won&#8217;t 50psi</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-15</link>
		<dc:creator>&#187; Bill Gurley Explains How Twitter Will Rule The World And Why Groupon Won&#8217;t 50psi</dc:creator>
		<pubDate>Tue, 28 Jun 2011 09:10:47 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-15</guid>
		<description><![CDATA[[...] S-1, and the removal of marketing costs from their expenses, and I liked how you linked back to a 1998 post about EBITDA earnings. Is this an indication that we&#8217;re in 1998 all over again? Or are investors smarter this time [...]]]></description>
		<content:encoded><![CDATA[<p>[...] S-1, and the removal of marketing costs from their expenses, and I liked how you linked back to a 1998 post about EBITDA earnings. Is this an indication that we&#8217;re in 1998 all over again? Or are investors smarter this time [...]</p>
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		<title>By: Javier Rincon</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-14</link>
		<dc:creator>Javier Rincon</dc:creator>
		<pubDate>Mon, 20 Jun 2011 17:23:27 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-14</guid>
		<description><![CDATA[Amazing to see the similarities in many aspects up to 12 years later. Many companies would love to push EBITDAM to investors, Groupon being the first one.]]></description>
		<content:encoded><![CDATA[<p>Amazing to see the similarities in many aspects up to 12 years later. Many companies would love to push EBITDAM to investors, Groupon being the first one.</p>
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		<title>By: Bill Gurley Explains How Twitter Will Rule The World And Why Groupon Won&#8217;t &#124; Wordwide News Exposed</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-13</link>
		<dc:creator>Bill Gurley Explains How Twitter Will Rule The World And Why Groupon Won&#8217;t &#124; Wordwide News Exposed</dc:creator>
		<pubDate>Fri, 17 Jun 2011 15:10:48 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-13</guid>
		<description><![CDATA[[...] S-1, and the removal of marketing costs from their expenses, and I liked how you linked back to a 1998 post about EBITDA earnings. Is this an indication that we&#8217;re in 1998 all over again? Or are investors smarter this time [...]]]></description>
		<content:encoded><![CDATA[<p>[...] S-1, and the removal of marketing costs from their expenses, and I liked how you linked back to a 1998 post about EBITDA earnings. Is this an indication that we&#8217;re in 1998 all over again? Or are investors smarter this time [...]</p>
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	<item>
		<title>By: Ditso</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-12</link>
		<dc:creator>Ditso</dc:creator>
		<pubDate>Sun, 05 Jun 2011 15:00:58 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-12</guid>
		<description><![CDATA[In January, Groupon raised $950 million. By the end of March, it had $209 million left.

I think that tells you all you need to know about this type of company.

&quot;The emperors new cloths&quot;.]]></description>
		<content:encoded><![CDATA[<p>In January, Groupon raised $950 million. By the end of March, it had $209 million left.</p>
<p>I think that tells you all you need to know about this type of company.</p>
<p>&#8220;The emperors new cloths&#8221;.</p>
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		<title>By: Deja Vu: Groupon&#8217;s Bubble 1.0 Approach To Accounting - Eric Savitz - The Tech Trade - Forbes</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-11</link>
		<dc:creator>Deja Vu: Groupon&#8217;s Bubble 1.0 Approach To Accounting - Eric Savitz - The Tech Trade - Forbes</dc:creator>
		<pubDate>Fri, 03 Jun 2011 18:55:20 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-11</guid>
		<description><![CDATA[[...] 1998, the venture capital investor Bill Gurley commented on this specific idea in a post on his Above the Crowd blog. Apparently, he read the Groupon IPO filing 10 years before the company [...]]]></description>
		<content:encoded><![CDATA[<p>[...] 1998, the venture capital investor Bill Gurley commented on this specific idea in a post on his Above the Crowd blog. Apparently, he read the Groupon IPO filing 10 years before the company [...]</p>
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		<title>By: remember #EBITDAM, I sure do, @bgurley called it out in 1998, #GroupOn S-1 term &#8220;Adjusted CSOI&#8221; &#124; Atish Babu</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-10</link>
		<dc:creator>remember #EBITDAM, I sure do, @bgurley called it out in 1998, #GroupOn S-1 term &#8220;Adjusted CSOI&#8221; &#124; Atish Babu</dc:creator>
		<pubDate>Fri, 03 Jun 2011 17:24:20 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-10</guid>
		<description><![CDATA[[...] via Internet Investors: Beware of the Proxy Valuation « abovethecrowd.com. [...]]]></description>
		<content:encoded><![CDATA[<p>[...] via Internet Investors: Beware of the Proxy Valuation « abovethecrowd.com. [...]</p>
]]></content:encoded>
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		<title>By: Deja Vu: Groupon&#8217;s Bubble 1.0 Approach To Accounting &#124; buy stock picks</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-9</link>
		<dc:creator>Deja Vu: Groupon&#8217;s Bubble 1.0 Approach To Accounting &#124; buy stock picks</dc:creator>
		<pubDate>Thu, 02 Jun 2011 23:38:44 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-9</guid>
		<description><![CDATA[[...] 1998, the venture capital investor Bill Gurley commented on this specific idea in a post on his Above the Crowd blog. Apparently, he read the Groupon IPO filing 10 years before the company [...]]]></description>
		<content:encoded><![CDATA[<p>[...] 1998, the venture capital investor Bill Gurley commented on this specific idea in a post on his Above the Crowd blog. Apparently, he read the Groupon IPO filing 10 years before the company [...]</p>
]]></content:encoded>
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		<title>By: Sheryl Sandberg&#8217;s Magic Facebook Finances [Financey] &#171; All Hell Hollywood</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-8</link>
		<dc:creator>Sheryl Sandberg&#8217;s Magic Facebook Finances [Financey] &#171; All Hell Hollywood</dc:creator>
		<pubDate>Thu, 09 Apr 2009 08:51:53 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-8</guid>
		<description><![CDATA[[...] We have a suggestion for Sandberg: Try an exciting new measure of profitability we call &#8220;earnings before expenses.&#8221; It was all the rage in the 1990s. [...]]]></description>
		<content:encoded><![CDATA[<p>[...] We have a suggestion for Sandberg: Try an exciting new measure of profitability we call &#8220;earnings before expenses.&#8221; It was all the rage in the 1990s. [...]</p>
]]></content:encoded>
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		<title>By: Andrew</title>
		<link>http://abovethecrowd.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-7</link>
		<dc:creator>Andrew</dc:creator>
		<pubDate>Thu, 08 Jan 2009 11:11:51 +0000</pubDate>
		<guid isPermaLink="false">http://abovecrowd.wordpress.com/1998/08/17/internet-investors-beware-of-the-proxy-valuation/#comment-7</guid>
		<description><![CDATA[It is a beautifull chapter. Thank&#039;s.]]></description>
		<content:encoded><![CDATA[<p>It is a beautifull chapter. Thank&#8217;s.</p>
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