Issues with Traditional IPOs and Benefits of Direct Listings

Bloomberg Opinion columnist Barry Ritholtz speaks with legendary venture-capital investor Bill Gurley, who has spent more than 15 years as a general partner at Benchmark Capital. Prior his work in venture capital, Gurley spent four years on Wall Street as a top-ranked research analyst, including three years at Credit Suisse First Boston focusing on personal computer hardware and software. He was the lead analyst on the Amazon IPO. He is also the author of the long-running Above the Crowd blog, which focuses on the evolution and economics of technology businesses.

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