Droughts & Fire: Kara Swisher’s Burn Book & Tech IPO Comeback with RBC’s Jesse Chasse | Okay, Computer. Podcast
Feb 28, 2024
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Kara Swisher discusses her book 'Burn Book' and tech industry insights. Jesse Chasse from RBC Capital Markets talks about the IPO market, lessons from SPACs/direct listings, and Uber's journey. The discussion also covers the path to going public, comparisons to the dot com bubble, and the current economic environment.
Tech IPO market is showing signs of improvement in 2024 after a drought in new offerings.
Cara Swisher's 'Burn Book' delves into tech industry evolution and the responsibilities of tech leaders.
Factors like abundant capital and B2B challenges are delaying tech companies' IPOs.
Deep dives
Current disrupts traditional banking with digital finance solutions
Current, a FinTech company, is revolutionizing traditional banking by offering convenient financial services through a user-friendly app. Users no longer need to visit physical banks as they can manage key aspects of their finances efficiently from Current's app, simplifying financial management for families.
Insights on M&A and IPO trends for 2024
The podcast discusses potential trends for mergers and acquisitions (M&A) in 2024 and speculates on the resurgence of initial public offerings (IPOs). Listeners are encouraged to tune in to gain fresh insights on industry trends and market forces influencing deal activities. Strategic Alternatives, a podcast from RBC Capital Markets, provides valuable information on how companies and investors can navigate the evolving deal landscape.
Cara Swisher's new book 'Burn Book: A Tech Love Story'
The episode features an engaging conversation with tech journalist Cara Swisher, delving into her latest book 'Burn Book: A Tech Love Story.' Swisher shares insights on her career journey, highlighting key tech figures and historical internet developments. The book chronicles Swisher's experiences throughout the tech industry evolution, offering compelling narratives and reflections on her reporting experiences and industry observations.
Exploring the Influence of Media and Technology Innovators
The discussion covers the impact of influential figures like Walt Mossberg and how their mentorship and reporting shaped the tech industry. Swisher reflects on the power dynamics and responsibilities of tech leaders, emphasizing the importance of transparency, accountability, and ethical decision-making in the era of advanced technological developments.
Tech IPO Market Outlook for 2024
In 2024, the tech IPO landscape is showing signs of improvement after a prolonged drought in new tech offerings. While last year saw only three tech IPOs, this year is projected to have a slightly better performance, with companies like Reddit and a stair labs recently going public. However, the overall sentiment suggests that the IPO wave won't be massive this year. Companies considering going public are likely to do so for specific reasons, such as investor liquidity needs, taking advantage of AI-related hype, or addressing employee stock-related issues.
Characteristics and Dynamics of Tech IPOs
In evaluating the characteristics of tech companies staying private longer, factors such as abundant capital raised, decreased urgency for liquidity, and ongoing B2B sector challenges have contributed to delaying IPOs. The major challenge restraining IPO activity isn't a lack of investor demand, but rather the supply of suitable companies. Enterprise software companies in particular are finding it challenging to forecast their financials adequately amidst a softer demand backdrop. The recalibration of valuations and increased focus on profitability are key considerations in navigating the IPO landscape.
On this episode of Okay, Computer. Dan Nathan and Guy Adami sit down with Kara Swisher, author of Burn Book: A Tech Love Story, for an in-depth look at the book and her process for writing it. Later, Dan is joined by Jesse Chasse of RBC Capital Markets to discuss the state of the IPO market (47:30), lessons learned from SPACs/direct listings (53:45), strategic M&A (55:45), the path to going public (48:00), comparisons to the dot com bubble (1:02:00), Uber’s wild ride (1:04:00), and the economic environment right now (1:08:00).