The Stock Market Is Being Used as a Dumping Ground
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SpaceX went public in June at $1.77 trillion, OpenAI and Anthropic are next in line, and together the three are worth more than every tech IPO in America since 1980 combined.
Companies used to go public to start growing. Now they go public once they’re done growing.
In this video, I’ll break down:
• How 3 companies are worth more than 45 years of tech IPOs combined.
• Why the main reasons companies used to go public stopped working.
• How a law meant to help young companies go public backfired.
• How private markets quietly replaced public markets.
• Why companies go public in the first place, and why so few still do.
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All illustrations, visuals, and animations in this video are original and hand-drawn by a freelance artist.
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