@anuj3101

Part 2 IPO History is repeating itself. 1999: 457 IPOs in a single year, NASDAQ fell 78% from its peak, 86% of IPOs ended up unprofitable. 2021: 1,035 IPOs and SPACs, Rivian raised $12 billion with no revenue, the stock fell 95%. By 2023, only 5% of IPOs from 2020–2021 were trading above their issue price. In 2026, more than 200 IPOs are expected. Yes, AI giants have real products and real revenue, but valuations still look excessive. Alongside the leaders, a wave of startups with little chance

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