Chilly Chain Storage Suppliers Are Wall Road’s Sizzling New Funding
About these tech IPOs …
In his last year-end letter, published today, prolific media retailer Aryeh Bourkoff of LionTree encourages readers to “leave it behind.” DealBook has informed him of what he expects in 2021, which is what is going on in the IPO market. (His letter cites data showing that Airbnb was the 19th company this year to double on its first day of trading, the most since the dotcom days.)
There is a “massive imbalance” between supply and demandSaid Mr. Bourkoff. “We don’t have balanced price dynamics and it will take a while to find the right foundation.” The solution could be direct quotes – “the most efficient way to go public without having to worry about retail investors,” he said – and SPACs with “reasonable” ratings for institutional capital infusions “early on”. Companies putting their IPOs on hold to rethink pricing strategies: “I think it’s a vacation delay versus a longer hiatus,” he said.
How to deal with populism and save the economy
The latest debates in our DealBook DC Policy Project series include panels of experts on how government and business leaders can tackle outrage over rising inequality and prioritize economic policy when the end of the pandemic is in sight.
Richard Edelman the Edelman communications firm found that trust in high-ranking institutions has declined in recent years. The problem is not new to the economist Veronique de Rugy pointed out – but we are currently in the midst of a “traumatic” transition from one social order to another.
The panel, moderated by Times opinion columnist Bret Stephens, suggested a number of solutions Heidi Heitkamp, the former Democratic Senator from North Dakota, calls for a redefinition of the dignity of work; Danielle Allen from Harvard, who advocates expanding the availability of credit; and Steve Case of Revolution urges investment outside of California and New York. But Kevin Sharer, the former CEO of Amgen, and James table of Loews warned against excessive regulation.
🗣 Check out the capitalism and populism debate, including video clips from major stock exchanges.
In a panel led by The Times’ Jim Tankersley Kevin Hassett, the former Trump economic advisor, warned that without an aid package, the economy would “scratch” to bridge it until at least March. Wendy Edelberg The Brookings Institution was demanding even more spending than lawmakers currently argued while Maya MacGuineas of the Committee on Responsible Federal Budget put aside concern about debt in order to urge lawmakers to borrow “like crazy”. Felix Matos Rodriguez of the City University of New York said infrastructure spending should be something anyone could leave behind.