VMware's IPO target values the software maker at about $10bn, since EMC is only selling off 10 per cent of the company. But, really, who cares? VMware's management is rich and will get richer no matter how you slice it. Now the plebs with stock options can make some coin too. Take that, Google.
The market - and the likes of Intel and Cisco that have fallen over themselves to put money in VMware - want nothing to do with reservations about the IPO. They abandoned any inclinations to embrace reality long ago. There's no room for reality when a company increases revenue between 90 per cent and 100 per cent per quarter.
Okay. Here's me drinking a few cups of coffee before the Jungian collective orgasm begins in earnest.
6:25 - Okay, five minutes to go.
Had to get my morning constitutional out of the way early today. I don't want there to be a mess when that bell rings.
Can you believe these jokers were only seeking a $100m IPO back in April? Does EMC's Joe Tucci have any idea what this beast is worth? Do the Wall Street guys advising EMC and VMware?
Makes you wonder.
6:30 - Ding, ding, ding!
There's VMware's chief Diane Greene and husband/co-founder Mendel Rosenblum ringing the opening bell. I could see Mendel hoot while watching BloombergTV. I think he was freaking as visions of sugar plum billions danced in his head.
The TV anchors can't stop talking about VMware. "It's the biggest tech IPO since Google," we're told."