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The severe Facebook revenue revisions that sent investors running

In the convoluted case of the botched Facebook IPO, the story goes that the social network’s underwriters, with guidance from a Facebook executive, reduced their 2012 earnings estimates, shared that material information with a few, preferred investors, and let institutional and retail investors take the hit as Facebook’s stock value tanked.

My wasted day on Capitol Hill

With the economy still in the doldrums, our political leaders are desperate to find ways to boost economic growth. Innovation and entrepreneurship are among the most obvious pathways to a solution. Both were the subject of a hearing held by the U.S. Senate Committee on Small Business & Entrepreneurship chaired by Sen. Mary Landrieu (D-La.), Wednesday. I was asked to participate in the discussion with other academics, government officials and entrepreneurs.