Let’s dispense with one alleged outrage about the Twitter IPO announced last week right away: the confidential registration statement.
Try as I may, I simply cannot muster much indignation that Twitter is using the JOBS Act to have the Securities and Exchange Commission review its Form S-1 before filing it publicly. Sure, the talking heads on Bloomberg and CNBC don’t like it, since they have to fill air time with something other than analysis of Twitter’s financial performance. But who else suffers from Twitter keeping its registration statement private right now?
