Earlier quoted context omitted.
Unless the play is the fleece retail investors
True, although even here there likely aren’t enough retail suckers to go around given the amount of initial investment folks need to cash in. Thats the challenge when you have so much crazy pre-IPO cash pumped in. After you float you still need to sell all those shares at the valuations you want to exit. If they floated say 10% of shares to go public and the price tanks everyone else trying to exit loses their shirt…
My boomer mom is the kind of person who just heard about AI and would get IPO fomo