Gerstner says OpenAI's $10B raise at $150B valuation is essentially public but excludes retail investors.
“You know, it's just nomenclature to not call that public. The problem with it is, the only people who get access to that are accredited investors, and retail investors are completely cut out.”
Gerstner predicts private market valuations will normalize to match public market declines of 50%, not just 5-10%.
“There was some you know, there's a report out this week that lots of people comment on Twitter where public markets were down 50% and private marks were down, I don't know, five to 10%.”
Gerstner argues large investors must be in private markets to capture value; notes inability to sell as advantage.
“If you want if you're Fidelity, if you're TRO, if you're one of these companies that wants to participate in all of that value creation, you can't not be in the private markets.”