Fed Fuels IPO Folly – Ep 635
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 11 December 2020
⏱️ 46 minutes
🧾️ Download transcript
Summary
*
Doordash and Airbnb go public with successful IPO, despite never making a profit.
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Transcript
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| 0:00.0 | I like to thank Hawthorn for supporting the Peter Schiff so podcast. |
| 0:13.1 | Hawthorn is a premium tailored personal care brand that's making it easier for guys |
| 0:18.8 | to feel and smell their best. |
| 0:21.0 | In fact you can get special offers for the holidays. |
| 0:23.9 | They're going on right now. |
| 0:25.7 | Just visit hawthorn.co. |
| 0:28.6 | I want to spend most of today's podcast discussing two very high profile IPOs that happened |
| 0:36.3 | over the last couple of days. |
| 0:37.6 | We had DoorDash which went public yesterday in Airbnb that came public today. |
| 0:43.4 | Now both of these companies got started up in Northern California but that's not the |
| 0:48.8 | only thing they have in common. |
| 0:51.0 | The other thing they have in common is that neither of these two companies has managed |
| 0:55.4 | to make a profit in any year that it's been an operation. |
| 0:59.4 | It's not like these companies just got started. |
| 1:01.6 | It's not like the dot com bubble where companies were going public a year or two after they |
| 1:06.5 | got started and they didn't have any time to prove that they can make a profit. |
| 1:11.5 | DoorDash has been in business since 2012 and Airbnb got started in 2008. |
| 1:18.6 | That's quite a few years of operations to demonstrate the viability of the business model. |
| 1:25.4 | That neither of these companies has been able to make any money and it's not because they |
| 1:30.4 | didn't raise money. |
| 1:31.9 | Both of these companies were able to raise billions of dollars from venture capitalists. |
| 1:38.4 | It's not like they went public because they needed the money. |
... |
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