Welcome to Axis ProRata, where we take just 10 minutes to get you smarter on the

collision of tech, business, and politics.

Presented by Bridge Bank. Be bold. Venture wisely. I'm Dan Pramak. On today's show,

Jule gets knocked out of China and President

Trump's stealthy Silicon Valley visit. The first, a roadblock for the IPO parade.

So that's the sound of the New York Stock Exchange opening bell. And on lots of mornings this

month, that one, or something similar over at the NASDAQ,

are being rung by CEOs of companies that have just gone public. Just today, we got IPOs for a

giant dental equipment maker called Envista and a cancer drug startup called IMG. Later this week,

we get a company you've probably heard of, at-home spin bike maker Peloton, plus one you maybe

haven't, an enterprise

SaaS play called Datadog that many think will pop like Zoom video did earlier this year. But all of those

companies, all of those offerings have been overshadowed by the continuing saga of WeWork,

which was expected to launch its IPO process this week, but didn't. Now the plan, or at least the hope,

is to begin in mid to late October. Now, one big issue with WeWork, and maybe to a lesser

extent, Peloton is the willingness of public market investors to tolerate big losses. Silicon

Valley has been driven for the past several years on a theory of growth at all costs,

with bottom lines quickly being sacrificed at the altar of

unicorn valuations and market share grabs. But there is a growing belief that the line between

acceptable losses and irresponsible losses has been crossed, with WeWork as the poster child

for it. And if that becomes conventional wisdom, it could violently upend the way that other startups get

funded and managed. The bottom line here, there's a lot more writing on WeWorks IPO than just

...