Ironic Public Offering
With its S-1 filed yesterday, a San Diego startup called Awareness for Teens, Inc., took the first major step in going public. It hopes to raise $25,000 toward the launch of its “financial literacy and money management program for teenagers.” As the filing explains, “many young people fail in the management of the first consumer credit experience, [and] establish bad financial management habits.”
We can safely speculate that program enrollees will be warned against frivolous and reckless spending. They will presumably learn the folly of overextending their credit, of taking on substantial debt without a reliable source of income.
All of which allows us — if we are prone to cynicism — to see this offering itself as highly ironic. As the familiar bold, all-caps risk factor language reminds us,
THIS OFFERING IS HIGHLY SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK TO THE PUBLIC INVESTORS AND SHOULD BE PURCHASED ONLY BY PERSONS WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT.