Google's IPO and The Law of Unintended Consequences

OK, so this really doesn't have anything to do with the economics or management of law firms.

Still, Barron's has a wonderfully contrarian editorial about the pending Google IPO, pointing out among other things that under the Corrupt Bad Old Frank Quattrone System of IPO allocations, shares tended to end up in the hands of the most wildly exuberant speculative bulls.  Whereas, under the Transparent Hygienic New Dutch Auction System of Google's IPO, shares will tend to end up in the hands of the most wildly exuberant speculative bulls.

Could this be the end of Silicon Valley as we know it?  Or only the end of mutually parasitic (ooops—we meant to say "symbiotic") dance between the VC's and the investment banks?  Or are those the same thing?

http://www.bmacewen.com/blog/archives/2004/05/googles_ipo_and.html