otherScore 35/100Watch
Brad Gersner: Shift in venture/private market dynamics—companies now thinking about IPO at $1B-5B valuations rather than 'stay private forever'; Planet Labs model (10x post-IPO gain) attracting imitators
Will Marshall· Planet Labs· Space· 2026-07-19· about Planet Labs, Altimeter Capital (PL)
“We are all advocates of these companies coming public sooner. Had Andrew had his way, he would have been public 18 months ago, probably at $10 billion rather than $50 billion. And that 5x over the course of the last two years would have gone to public market investors. So go ahead... I see the pendulum swinging back to companies are like man I want to be like Planet Labs and get public, right? and and have to play in the big leagues and do it in the public markets.”
Why it matters
A fundamental shift in private company founder and VC thinking: earlier IPOs unlock better risk-adjusted returns for public market investors and provide stability for mission-critical infrastructure (government customers). This reverses a decade of 'stay private' mentality.
Investment implication
More and larger IPOs expected in 2024-2026 across AI, space, robotics, and biotech. Public markets will capture more upside. IPO windows will accelerate fundraising for growth-stage companies. Expect faster capital deployment and more public market volatility/opportunity.