The Facebook IPO

Facebook IPO? Robin Hood’s Wall Streeters Just Don’t Care

Photo by Kerima Greene for

Perhaps the biggest story to come out of the Robin Hood Foundation charity gala in New York Monday night concerns what everyone wasn’t buzzing about.

Wall Street's top bankers and biggest hedge-fund managers talked about the trading losses at JPMorgan Chase. They chatted about the ongoing debacle in Greece. They reacted to the jibes of comedian Seth Myers.

But they weren’t talking about Facebook.

Even when prompted by a reporter about the social network's much-heralded initial public offering, the Wall Street power elite couldn’t muster much interest.

Which raises a question: why isn’t the Robin Hood Foundation crowd excited about Facebook?

Part it may be personal. Few of those seated in the center of the 4,000-person crowd—meaning, the big names writing the biggest checks to the charity—spent any time on their BlackBerries or iPhones during the event. They weren’t Tweeting or updating their Facebook statuses.

They just do not seem to be that into social media.

In contrast, those on the periphery were using their phones. The daughters of the power elite, teenagers decked out in short dresses and towering heels, who had come to see Rhianna perform, used their phones throughout the event.

The message was clear: Big-Money Wall Street just isn’t in love with the social mobile network revolution that has enthralled Silicon Valley.

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