Narrative Distillation – The shifting sands of tech IPOs(kwokchain.com)
kwokchain.com
Narrative Distillation – The shifting sands of tech IPOs
https://kwokchain.com/2021/09/29/narrative-distillation-1/
4 comments
This was one of the best things I’ve read all year on HN. Related, I have no clue why this wasn’t the top article all day on HN
"i honestly wrote this entire piece only as a setup for this joke. and i have no regrets." Awesome!
It does beg the question who is there to take away the keys at the end of the night?
It’s probably 50/50 that IBs actually played this role as opposed to regulators.
It also helps to explain absurd valuations. In the absence of a set of rules, valuations can be anything as long as the story is good enough. As the legend grows, so does the treasure contained in the chest.