I hope Mitch is wrong, but his arguments against a public Google being nearly as innovative are persuasive.

From Red Herring Blog: Why I won't be a Google IPO investor:

QUOTE

The technology world is waiting with bated breath for Google to announce its initial public offering. I'd love to own Google – the Google of today – a private company free to do almost anything its owners want without having to worry about how the equity markets will respond to it. I wouldn't buy Google shares at an IPO, because they will be priced for a perfection imposed by those same owners who enjoy the benefits of operating Google today as a wildly profitable private company.

UNQUOTE