3 ms·

So if (nominally) billion dollar companies can't afford to go public (or it's not worth it), who can? Another perspective is that there's a kind of members clu

So if (nominally) billion dollar companies can't afford to go public (or it's not worth it), who can? Another perspective is that there's a kind of members club investor thing going on, and the "actual market" (with their insistence on trivialities like profit and loss and audit of metrics) is an inconvenience to private games of high stakes poker that allow cap to be conjured out of powerpoint and closed door meetings. i.e, bulls%$t. Personally I think AMZN proves that the market can evaluate growth focused companies that don't make money (compared to cap) just fine.

sokoloff 10y ago
I see a lot more private exits happening and likely to happen in the future. (Meaning sell to an acquirer who is already public themselves, generally.) This amortizes the Sarbox waste across a larger base. Your citing of Amazon (with a market cap of over $400BB) fits nicely into this model. They have done acquisitions and are amortizing their waste over that much larger base. Someone trying to go out standalone at $1BB market cap (which used to be viable) isn't necessarily viable just because $400BB is (more than) viable.