Money. Greed. Power.
Welcome to Silicon Valley, a place where wealth is counted not in millions, but in billions of dollars; where the ambition is to own not a fleet of cars, but a hangar full of planes; and where the Forbes 400 list serves as a de facto Social Register.
This is the world so vividly captured in this incisive debut novel. Written by the ultimate Silicon Valley insiders, Michael C. Perkins and Celia Núñez, A Cool Billion gives readers a glimpse of the exclusive and frenetic world of this decade's new power players.
A Cool Billion is a classic tale of avarice and ego, with a 21st century twist: An ambitious journalist, Steven Cavanaugh, pushes a friend to dig up confidential information about the high tech startup where she works. She agrees, and turns up dead the next day. Enraged and guilt-ridden, Steven pursues the man he suspects killed her-until he stumbles onto a billion-dollar conspiracy. Now the race is on: the conspirators are after Steven, and his only hope for survival is to elude them long enough to unravel their identities.
Publishers Weekly "Perkins...and Nunez...keep the pages turning."
From The Publisher
On the death of France's most glorious king, Louis XIV, in 1715, few people benefited from the shift in power more than the intriguing financial genius from Edinburgh, John Law. Already notorious for killing a man in a duel and for acquiring a huge fortune from gambling, Law had proposed to the English monarch that a bank be established to issue paper money with the credit based on the value of land. But Queen Anne was not about to take advice from a gambler and felon. So, in exile in Paris, he convinced the bankrupt court of Louis XV of the value of his idea.
Law soon engineered the revival of the French economy and found himself one of the most powerful men in Europe. In August 1717, he founded the Mississippi Company, and the Court granted him the right to trade in France's vast territory in America. The shareholders in his new trading company made such enormous profits that the term "millionaire" was coined to describe them. Paris was soon in a frenzy of speculation, conspiracies, and insatiable consumption. Before this first boom-and-bust cycle was complete, markets throughout Europe crashed, the mob began calling for Law's head, and his visionary ideas about what money could do were abandoned and forgotten.
In Millionaire, Janet Gleeson lucidly reconstructs this epic drama where fortunes were made and lost, paupers grew rich, and lords fell into penury -- and a modern fiscal philosophy was born. Her enthralling tragicomic tale reveals two great characters: John Law, with his complex personality and inscrutable motives, and money itself, whose true nature even to this day remains elusive.
VALUING WALL STREET; PROTECTING WALL STREET PROFITS WITH NOBEL LAUREATE JAMES TOBIN'S Q RATIO
INTERNET BUBBLE; INSIDE THE OVERVALUED WORLD OF HIGH-TECH STOCKS--AND WHAT YOU NEED TO KNOW TO AVOID
Classic texts on investing and financial manias.
FOR IMMEDIATE RELEASE
Contact: Michele Jacob
Will Internet Mania Destroy the Small Investor?
The founders of Silicon Valley╠s Red Herring deliver a dire warning that╠s bound to burst your bubble.
This book is a bold attempt to speak painful truths. Few others have either the ability or the nerve. I found the book riveting.
David Kirkpatrick, Editor, Fortune Magazine
A great insider╠s view.
Steve Worthington, Portfolio Manager, Barbary Coast Capital Management
Insiders who miss this book will become extinct. Read it!
Tim Draper, Founder and Managing Director, Draper Fisher Jurvetson
Internet stocks are grossly overvalued, and the retail investors who don╠t get out now are going to get burned. So say Anthony B. Perkins and Michael C. Perkins, authors of THE INTERNET BUBBLE: Inside the Overvalued World of High-Tech Stocks And What You Need to Know to Avoid the Coming Shakeout (HarperBusiness $27.00). According to the authors it╠s time to take action, time to discern what╠s real and what╠s fluff in the stock market.
The Internet boom has created billions in new█largely paper█wealth for thousands of entrepreneurs and investors, so why would anybody want to stop the party now? The problem is that the mania for technology stocks has produced a dangerous and unstable overvaluation, or ¤bubble,Ë claim Perkins and Perkins, founders of Red Herring, one of the foremost magazines of the technology industry. These two high-tech experts argue that this Internet bubble, like other stock manias before it, must inevitably collapse, crushing the small investor in the process. This means that to protect themselves small investors must act quickly.
THE INTERNET BUBBLE:
ďShows how and why some of the best known Internet stocks have been greatly overvalued. To justify their market valuations, these stocks would have to grow their revenues, on average, by over 80 percent every year for the next five years. In other words, they would have to grow twice as fast as Microsoft, every year.
ďExposes the role that venture capital firms, like Kleiner Perkins Caufield & Byers, as well as the investment bankers, have played in creating the Internet bubble.
ďDebunks the new economy myth of the ¤long boom,Ë a fallacy that is often used to justify overvalued technology stocks.
ďShows why buying IPOs is a losing game for most individual investors. While insiders cash in big, the little guy loses almost every time.
ďExplains how the Internet industry is due for the same Darwinian shakeout experienced in every mania from tulip bulbs to the personal computer business.
ďLevels the playing field by showing investors how to pick their way through the Internet minefield and still find appropriate investments.
In the final analysis, argue the authors, investors cannot allow themselves to be seduced by revolutionary new technologies and Web services that lack solid business models and profit margins. As THE INTERNET BUBBLE reveals, many financial and industry insiders agree that because of these drawbacks Internet stocks are due for a big shakeout. As Bill Gates told the authors, ¤Investors should not invest in Internet stocks unless they are prepared to take massive risks.Ë
THE INTERNET BUBBLE uncovers how the big investors think and operate. And it gives small investors a tool they╠ve never had before, enabling them to save their assets.
More Advance Praise for THE INTERNET BUBBLE:
"Tony and Michael Perkins were tracking high-tech IPO's before they became a national phenomenon, and their book exposes the stories surrounding the incredible rise and fall of the Silicon Valley high-tech wealth machine."
Senior Producer, CNNfn's Digital Jam
"Tony and Michael Perkins bring a keen insiders' eye to the inner workings of the most important players in this new economy."
Sandy Climan, Managing Director, Entertainment Media Ventures LLC, former Principal, Creative Artists Agency
ABOUT THE AUTHORS:
Anthony B. Perkins is the co-founder, chairman and Editor-in-Chief of Red Herring Magazine and Red Herring Online. He appears regularly on CNNfn╠s Digital Jam, ZDTV, and European Business News, and is a frequent speaker at industry conferences worldwide.
Michael C. Perkins is a founding editor of Red Herring Magazine and author of The Red Herring Guide to the Digital Universe. He has worked as a consultant and has served as a speaker and moderator for several prestigious business forums.
ABOUT THE BOOK:
TITLE: THE INTERNET BUBBLE
SUBTITLE: Inside the Overvalued World of High-Tech Stocks And What You Need to Know to Avoid the Coming Shakeout
AUTHORS: Anthony B. Perkins and Michael C. Perkins
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