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Last Call: A Picture is Worth a Thousand Words, Instagram Worth $1 Billion
09 Apr 2012 EDT -
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Sean Parker: You don't even know what the thing is yet. How big it can get, how far it can go. This is no time to take your chips down. A million dollars isn't cool, you know what's cool? Eduardo Saverin: [Sarcastically] You? Eduardo Saverin: [the scene shifts back to the deposition room] A billion dollars. — The Social Network

The only thing cooler than a billion dollars? Being one of 13 Instagram employees, on a day the company is sold to Facebook for, yep, one billion dollars.

Market Musings (via Robert Hum)

  • The Dow Jones Industrial Average closed below 13,000 for the first time since March 12th, with Monday's 130 point drop. Prior to March 12, the Dow had not been over 13k since 2008
  • Dow, S&P have worst day since March 6
  • Dow back below 13,000, closes below 50-day moving average for first time since December 20
  • Dow, S&P down 4 straight days for worst 4-day drop in 4 months
  • Tracking The Selloff (Via Giovanny Moreano)

    % Chg. % Chg. Pullback

    Index Low to High Since Low Since High

    S&P 500 32.3% 28.6% -3.7%

    Dow 27.8% 24.3% -3.5%

    Nasdaq Comp. 36.3% 32.5% -3.8%

    Russell 2K 40.9% 33.5% -7.4%

    S&P 400 MidCap 37.9% 32.8% -5.1%

    Trading Volume Keeps Dropping:

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