What changed with the US IPO model?
China out there IPOing their leading frontier companies like Minimax or Unitree at very compelling valuations at ~$5-$6B?In America, we have OpenAI at $800 billion; SpaceX at $1.7 trillion; possibly Stripe at $140 billion.Where are the Facebooks of the world, where retail actually can get upside instead of being exit liquidity?Source: Serenity
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