E29: Coinbase goes public, direct listings vs. IPOs, portfolio management, unions & more with Bestie Guestie Brad Gerstner
All-In with Chamath, Jason, Sacks & Friedberg
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The Shift to Direct Listings
This chapter explores the evolution of capital markets with a focus on direct listings, using Coinbase's landmark case as a cornerstone. The discussion highlights the advantages of this model for company founders and the concerns surrounding employee experiences during lockup periods. By contrasting direct listings with traditional IPOs, the chapter sheds light on the implications for both company valuations and employee morale.
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