I don't see Lindows being very successful, perhaps the hype will help after the ipo so the Lindows execs can bail before it dies.

So is this just another case of corporate execs dumping their investment on the public to cash out? Lindows doesn't seem a large enough company to get much out of an ipo at this time. I would watch if Lindows execs start bailing after the ipo. This could be a bad sign.

Sounds to me like legal way to scam/cash in on hype and an overenthusiastic general public.

Okay. So people are bidding ridiculously high prices on a speculative tech stock. What's the problem? I don't see single mothers and starving children being physically coerced into bidding on IPOs. It sounds to me like you're complaining that consenting adults with extra cash are being allowed to speculate with THEIR OWN MONEY! Imagine that. Next up: Loterry tickets, slot machines, and the blackjack table have worse odds than tech IPOs.

you have a table set for even more inflated IPO:s and ludicrous business models going public

Okay. So don't bid on it, tell your aging parents to not bid on it. And then chill out. Nobody is doing something they don't want to do here.

I agree it's not perfect, but it's better than letting the investment bankers and large institutional investors be the only ones able to get the opening price.

OpenIPO sounds to me like legal way to scam/cash in on hype and an overenthusiastic general public.

Benjamin Graham (Warren Buffet's "idol") used to say that IPO stands for "It's Probably Overpriced".

Factor that in with an irrational and overenthusiastic general public lacking investment skills thinking all IPO:s are winners (they usually forget the last bubble in good times) and you have a table set for even more inflated IPO:s and ludicrous business models going public.