Eric Johnson

Recent Posts by Eric Johnson

Hedge Fund Investment Pulls Zynga, Groupon Shares Out of the Weeds

Zynga and Groupon shares shot up seven percent and five percent, respectively, on news of an investment from hedge fund Jana Partners, first reported by Reuters earlier this morning. The long-term picture of both companies’ stock prices has been less than rosy. After peaking in March 2012 at close to $15 per share, Zynga hasn’t risen above the $5 threshold in nearly a year. Meanwhile, Groupon has similarly remained below $10 per share in the same time frame, peaking shortly after its November IPO close to $26 per share.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work