Palihapitiya asks whether quarterly reporting burdens have contributed to killing the IPO market, citing Trump's proposal for longer cycles.
“But recently, Paul president Trump said maybe we should move to six month reporting or one year reporting, and it was really well received by a lot of people.”
Palihapitiya argues investors capturing returns in private markets changed how public markets behave and delayed IPOs.
“And so investors said, well, let's go capture these in the private markets for us and our LPs. But what it also does is then change the nature of how these markets behave.”
Palihapitiya says OpenAI and Anthropic must IPO immediately as no other companies are as important.
“These two companies need to get out as quickly as possible. And the reason is every single company that comes after it, all those companies that you just named, Jason, are not nearly as important and do not need the money nearly as badly as these guys do.”
Palihapitiya lists questions for Anthropic and OpenAI S-1s on token efficiency and steady state usage
“I’m very excited to see the Ant and OAI S-1s. Here are some of the questions I am very interested in: 1. What is the best guess of the steady state number of tokens to accomplish a fixed benchmark task that actually represents real work in a company. To understand what is https://t.co/xesW9MGG3c”
Palihapitiya estimates Anthropic and OpenAI IPOs will generate over $500 billion in charitable giving combined.
“The interesting thing that's gonna happen post the Anthropic and OpenAI IPOs is if you think about the amount of charitable giving or DAFs that are going to be funded by both of these two IPOs, it's going to be north of $500,000,000,000 between the two companies, and it could be even more than that.”