2min chapter

All-In with Chamath, Jason, Sacks & Friedberg cover image

E114: Markets update: whipsaw macro picture, big tech, startup mass extinction event, VC reckoning

All-In with Chamath, Jason, Sacks & Friedberg

CHAPTER

Are You Trying to Get Early Takers to Buy Equity in an IPO?

When you say book build, you mean trying to see if you'll get some early takers to buy equity in an IPO. So I think that there's a lot of those testing the waters that are now starting again. We could see the capital markets open, even if we don't, it's actually the worst scenario because now you have all this money going into a fewer number of names. That sort of explains Facebook has doubled in 30 to 60 days. It was about to get to that. And so the question is what happens if inflation somehow all of a sudden pokes itself back up right now?

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