McNamee: Wall Street’s ‘Extreme Corruption’ in Capital Formation

In an interview with Tiernan Ray, Venture capitalist Roger McNamee of Elevation Partners appeared on Bloomberg Television today with Deirdre Bolton to discuss his theory of the “hypernet,” principally the evolution of small devices such as smartphones, which he spoke about at length as he gestured toward his Apple (AAPL) iPhone.

Within that discussion, he was asked what the effect was on tech of Facebook‘s (FB) controversial initial public offering.

McNamee said the offering probably has shut down the prospect of any other tech companies going public this year.

But he also thinks the moral of the story in that IPO is the revelation of Wall Street’s “corruption” and “criminal behavior“:

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