Monday, March 27, 2006

Dude, where's my diligence?

A while back, at the tail end of a long-ish and boring-ish post on Skype's legacy financial statements, I raised doubts about the exact legal relationship between Skype the application and the underlying technology which enables it - because the fine print seemed to point to a vulnerability for eBay in this area. Damned if Andy hasn't come up with the goods on a lawsuit by Streamcast which seems to play on this very anxiety. This looks like pretty bad news, particularly coming on the back of some of the more dire conclusions of the EADS study. Ho-hum, eBay stock is up a quarter of a percent, however, and I see no evidence of coverage in the mainstream financial press - so I guess everything's just fine... It's incidents like this which further steel my conviction that the blogosphere is stealing mindshare from traditional broker research.

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