Many thanks for this educative and value adding article.

A thorough analysis is highly recommended before investors committin funds to IPOs.

My question to equity/investment analysts is that did they include these failure possibilities, as caveate, when advising their clients?

This is a fresh challenge to analysts who stand as investors' eyes. Note that investors may see value by name eg FB but analysts need to confirm whether their clients' understand of value is correct or not by estimating intrinsic value.

This way we will maintain confidence in the market that appears to be not very safe a place to be for any investors.