Basically, your IPO is a branding event. once in a lifetime branding event. All people care about was that it was up. That gets enormous news. And essentially JP Morgan and Goldman Sachs are now really not bankers, they're engineers. And that is they engineer scarcity and manufacturer scarcity such that these things get 20%.
The IPO market has in fact become sort of the last stop on the chump train and that is when Google went public I think it was an $80 billion market cap it's up you know 500 fold retail investors have had a chance to garner a tremendous you know 500x return if you to get that from SpaceX after it goes public what would that be two trillion
In the past five days we've seen the biggest VCbacked IPO ever and the biggest VCbacked strategic sale ever. We've never had a an M&A of a VCbacked company young startup north of 50 billion. Like 60 billion is so so big. We sort of lose sight of it because we're talking about a trillion dollars for this company, three trillion for that company. But 60 billion is beyond a home run.
Bill Gurley doesn't want a crazy pop on day one, doesn't want it to go up 100%. If we're in 10, 20, 30% range for something this big, that just feels like... Everything came together properly.
You have what is in my opinion the greatest degree of manufactured scarcity ever in an IPO and this is about to be the greatest transfer of wealth from retail investors since crypto
1mo ago
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