Capital Flows

Come for the Tool, Stay for the Exchange: Bootstrapping Liquidity in the Private Markets

David Haber

The next generation of private market exchanges will begin as investor relations software.

Inside the GameStop Drama; U.S. Constitution, Auctioned

Ken Griffin and Marc Andreessen

The founder and CEO of market maker and investor Citadel gives his perspective on the frenzy that involved short sellers and ascendant retail investors.

IPOs and Beyond: A Guide to Exit Options for Companies

Blake Kim and Quinten Burgunder

From traditional paths (IPO, M&A) to alternatives (SPACs, DLs, secondary sales), here are the implications for valuation, dilution, liquidity, and more.

The Age of Tech x Bio: The ‘Industrial Bio Complex’

Vijay Pande

A new era of industrialized bio is the next industrial revolution, propelled forward by Covid as our gen’s World War II. And with it we'll now see bio's GAFA...

A Quick Pulse Check on Direct Listings

Scott Kupor

Are direct listings working? What do the data tell us (albeit from a very limited sample)? And what have we learned so far when it comes to direct listings?

Speculation is Necessary. Governments Can Help.

Jamie Catherwood

Instead of trying to eradicate speculative manias, we should channel investors’ innate affinity for speculation into productive ventures.

The World Game

Bruno Macaes

Technology is the set of rules that now governs global shifts. The task for builders and technologists is to discover all possibilities contained therein.

The New Market Momentum: Reading the Technical Indicators

Katie Stockton

Given the emergence of new forms of unpredictability, mathematical indicators that can isolate breakouts and trend shifts are crucial.

Well-Behaved Bubbles Often Make History

Byrne Hobart

The right kind of bubble brings together the right group of people at the right time — it's a coordinating mechanism that can do a surprising amount of good.

In Defense of the IPO, and How to Improve It

Alex Rampell and Scott Kupor

To understand why the popular narrative around IPOs is wrong, you have to take apart the IPO process, how stock markets work, and what the “price” of a stock means.