Carta: Bringing Tech Companies Back to the Futuristic 1990s

Plus! Rogan -> Spotify, NYT 3P -> 1P, Conferences ,Theaters, Microsoft Build, Facebook Shops,

A few stylized facts that will surprise nobody who’s been paying attention to equities in the last decade:

  1. Companies used to IPO very quickly after founding, often in a year or two. Now, they wait a decade.

  2. In that decade, many early employees are stock-rich and cash-poor. Many investors love early-stage growth stocks and would prefer to invest when they’…

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