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The IPO is no exit for the entrepreneur; it's the start of purgatory.

TARP is funded by taxpayers, so there are many rules about how that money can and can't be used. The result: GM spends an awful lot of time checking in with the people who administer TARP over everything from hiring to executive compensation and management. For a global company, that adds up to a lot of distraction.

So long as TARP money is wrapped up in GM, the company will never shake its 'Government Motors' image. That label, as competitors and GM employees are keenly aware, is code for one thing: 'GM is a failure.'

Any company has got to reinvent itself again and again.

Eventually, all companies are replaced.

The world is moving, and a company that contents itself with present accomplishments soon falls behind.

I do wish to emphasize that in light of the Alibaba deal, Youku Tudou management will remain independent, and we will continue to be open to opportunities for cooperation with other strategic partners going forward.

If you were approaching the TARP investments from a pure investment standpoint, then there's no doubt in my mind the taxpayer lost, and probably lost big.

Tarot is just stories on cards.