Will Marshall

Tech Founders Argue IPOs Can Create More Upside After Listing

At an All-In Liquidity IPO panel, Altimeter’s Brad Gerstner, Cerebras chief executive Andrew Feldman and Planet Labs chief executive Will Marshall made the case that public markets are again becoming a place where venture-backed technology companies can compound, not merely exit. Gerstner argued that investors often give up large gains by forcing distributions after an IPO, while Feldman said more money is historically made after companies go public than before. Marshall and Feldman also described the IPO less as an operating transformation than as a change in capital, credibility and scrutiny, with execution still determining whether the listing creates lasting value.