Leave to the East Coast techies to point out when Wall Street gets it wrong regarding the Internet. Henry Blodget over at Silicon Alley Insider points out a major gaffe made by Morgan Stanley Internet analyst Mary Meeker related to YouTube's new ad model. According to Blodget, Meeker got a little too excited by the YouTube news by inaccurately estimating that the change could result in $4.8 billion of gross revenue and $720 million of net revenue to Google's annual results.
After crunching the numbers, Blodget determined that Meeker's estimates actually amount to $48 million of gross revenue and $720 thousand of net revenue. We're all so used to the word "billion" in combination with the name Google, such an error might understandable—from anyone "except" a Morgan Stanley analyst.
Photo: duncandavidson
