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by markdown
318 days ago
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> Not everything needs to be Not everything, sure. But this one more than most, needs to be democratic. If you don't see the wealth inequality today in which the 1% own 50% of the worlds wealth, and you don't see where this is inevitably going to lead, then I don't know what to say. Stay woke at r/latestagecapitalism |
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With that said, lots of options exist for a company like Figma doing a public listing: when you're the belle of the ball you can list how you want. Google did a pretty unconventional Dutch Auction thing IIRC.
In this instance the Figma folks decided they wanted an IPO pop and had the underwriters set it up that way. They were paying some premium (to institutional investors) to get one of many intangibles that are attached to that (like a bunch of press about how hot the stock is).
In a world where it was a no-brainer that this was going to be another mediocre Adobe product line rent seeking from here to the horizon, I'm pretty OK with how this turned out.