E146: Did the Fed break the VC model? Plus IPOs, M&A, revaluing unicorns & more
All-In with Chamath, Jason, Sacks & Friedberg
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Navigating the IPO Landscape
This chapter explores the complexities of bank-led traditional IPOs in America, comparing them with practices in Europe and Asia. It highlights the inadequacies of the current IPO structure, discussing issues such as limited share availability, lack of anchor buyers, and the effects of changing market conditions on companies' valuations. The conversation advocates for a deeper understanding of business fundamentals over mere stock price fluctuations, addressing the broader implications of direct listings and traditional offerings.
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