Five Days. Fifty Percent Loss.

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I've met Elon Musk before. He's a cool guy, and an amazing entrepreneur (PayPal, Zip2, SpaceX, Tesla). And I've been to the Tesla showroom any number of times. The Tesla is a gorgeous, astonishing car.

But I wasn't even a little bit tempted to jump into the Tesla IPO last week. In the course of five days, there are investors (if we want to use such a term) that are already down 50% on their, errr, investment. Remember the old saw – IPO stands for It's Probably Overpriced.