The Modern IPO Is Useless. Let's Reinvent It
1–10 of 15 posts
Re: The Modern IPO Is Useless. Let's Reinvent It
#2It's being reinvented. It's called an initial coin offering. And now I shall drown in downvotes.
I'll redeem my self with a non paywall explanation of Social Capital's S-1 filing: https://www.recode.net/2017/8/23/16194374/social-capital-inv...
Re: The Modern IPO Is Useless. Let's Reinvent It
#3I'd be curious to hear a rebuttal to this article I read the other week criticizing Social Capital / SPACs by someone more knowledgeable about this field than me: https://www.bloomberg.com/view/articles/2017-09-15/icos-vcs-...
Re: The Modern IPO Is Useless. Let's Reinvent It
#4I'd be curious to hear a rebuttal to this article I read the other week criticizing Social Capital / SPACs by someone more knowledgeable about this field than me: https://www.bloomberg.com/view/articles/2017-09-15/icos-vcs-...
Matt Levine has been great at puncturing the overblown hyperbole about SPACs and generally pointing out how silly Social Capital is.
The entire saga:
https://www.bloomberg.com/view/articles/2017-08-24/unicorn-s...
https://www.bloomberg.com/view/articles/2017-09-15/icos-vcs-...
https://www.bloomberg.com/view/articles/2017-09-19/memory-mo...
edit: also, https://ftalphaville.ft.com/2017/09/19/2193913/the-public-ma...
Re: The Modern IPO Is Useless. Let's Reinvent It
#5It's being reinvented. It's called an initial coin offering. And now I shall drown in downvotes. I'll redeem my self with a non paywall explanation of Social Capital's S-1 filing: https://www.recode.net/2017/8/23/16194374/social-capital-inv...
I think it is something more in between. Currently ICOs don't protect investors in any way. One financial sandbox alternative is to enable capped ICOs to offer securities for real startups. I am tired of utility tokens without too much utility and great speculation.
Re: The Modern IPO Is Useless. Let's Reinvent It
#6It's being reinvented. It's called an initial coin offering. And now I shall drown in downvotes. I'll redeem my self with a non paywall explanation of Social Capital's S-1 filing: https://www.recode.net/2017/8/23/16194374/social-capital-inv...
I think it is something more in between. Currently ICOs don't protect investors in any way. One financial sandbox alternative is to enable capped ICOs to offer securities for real startups. I am tired of utility tokens without too much utility and great speculation.
> I think it is something more in between.
Yes. One which addresses the unique aspects of the technology, adds consumer and investor protections, and acknowledges the liquidity benefits of an inevitable secondary market which no gatekeeper can prevent.
> One financial sandbox alternative is to enable capped ICOs to offer securities for real startups.
And not this.
Re: The Modern IPO Is Useless. Let's Reinvent It
#7Earlier quoted context omitted.
I think it is something more in between. Currently ICOs don't protect investors in any way. One financial sandbox alternative is to enable capped ICOs to offer securities for real startups. I am tired of utility tokens without too much utility and great speculation.
> I think it is something more in between. Yes. One which addresses the unique aspects of the technology, adds consumer and investor protections, and acknowledges the liquidity benefits of an inevitable secondary market which no gatekeeper can prevent. > One financial sandbox alternative is to enable capped ICOs to offer securities for real startups. And not this.
> And not this.
Why not?
Re: The Modern IPO Is Useless. Let's Reinvent It
#8Earlier quoted context omitted.
> I think it is something more in between. Yes. One which addresses the unique aspects of the technology, adds consumer and investor protections, and acknowledges the liquidity benefits of an inevitable secondary market which no gatekeeper can prevent. > One financial sandbox alternative is to enable capped ICOs to offer securities for real startups. And not this.
> And not this. Why not?
securities for real startups most likely means equities in real startups, which comes with the illiquidity burden that people just don't want.
a totally roundabout way of using tokenized assets at all
Re: The Modern IPO Is Useless. Let's Reinvent It
#9Earlier quoted context omitted.
> And not this. Why not?
securities for real startups most likely means equities in real startups, which comes with the illiquidity burden that people just don't want. a totally roundabout way of using tokenized assets at all
Not if they are tradable and (semi) liquid? Isn't that the whole point, to raise capital through an ICO + eventually make said tokens (representing equity) tradable from the start, so you have liquidity?
Re: The Modern IPO Is Useless. Let's Reinvent It
#10Earlier quoted context omitted.
securities for real startups most likely means equities in real startups, which comes with the illiquidity burden that people just don't want. a totally roundabout way of using tokenized assets at all
Not if they are tradable and (semi) liquid? Isn't that the whole point, to raise capital through an ICO + eventually make said tokens (representing equity) tradable from the start, so you have liquidity?
Yeah, I don't understand why he's contradicting himself.