The direct-to-consumer (DTC) playbook vs. the Amazon model: lessons from Harry's $1.37m exit
Sand Hill Road
Tech builders don't like bean counters that's why Silicon Valley has fallen out of love with the public markets over the past decades. In the week of Uber's disappointing IPO, we have seen two of Marc Andreessen's "projects" take the next step in transforming market allocation of tech stocks: Carta raising $300m at a $1.7bn valuation to build the "world's largest marketplace for private companies" and Eric Ries' Long-Term Stock Exchange (LTSE) getting approval by the SEC to become the 14th regulated stock exchange in the U.S. I reflect on what this could mean to the way in which we finance innovation in Silicon Valley.