Maybe it is a stock market bubble, or a tech-stock bubble at

least. And maybe DoorDash, Airbnb and C3.ai and their

bankers should have priced higher regardless to take
advantage of all of the enthusiasm. It’s hard to avoid reactions
like that, after DoorDash, for example, doubled its final private
share price to $102 for its public debut on Wednesday — only
to see the price climb to $175 at the end of the week.
Or maybe none of this will matter, because the future is way
bigger and the companies are going to get there regardless.
That’s what Saar Gur tells Connie Loizos this week about
DoorDash, which he had invested in many years ago:
I actually started my career at Lehman Brothers on the investment banking team, and so
having seen the IPO process, while I can appreciate [frustration that a] company left
some money on the table based on the pricing, the tactical challenge [is that] it’s very
hard to predict. You know what the market will bear once it moves to retail investors.