
E003: People Cost, Panzerism, Asymmetric Risk, Shopify Layoffs, Flexport & More.
OPERATORS
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The Disconnect Between Shopify and the Public Markets
Shopify's stock is still down 60% from all time highs, even though it just popped 30%. I don't know how they get back to all time highs. The best place you can be is a profitable privately held company that has clear mission. It's the easiest to win then because when you're public, you functionally have a directive from the outside of you need to justify this valuation at all times.
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