Going public involves an enormous amount of garbage — endless meetings, document review where commas move and no value is added — and the next morning you've sold nothing more and your engineering projects have made no progress.

Andrew Feldman describes the IPO process as full of wasteful meetings and document churn that adds no value, and says the core business doesn't change the day after. ✦ AI generated

Andrew Feldman · All-In Podcast · 2026-06-06 · original ↗

Look, I think you do all this work. And I think it's really difficult to overestimate the amount of garbage that's involved in going public. The number of meetings where you look on the Zoom and there are 130 attendees. And the amount of times you review these documents and the commas move and just no value is added. You go there and you have this enormous event. And the next morning you've sold no more stuff. Your engineering projects have made no progress since the day you weren't public. And you go back to work. And you have some new constituents that you have to address and communicate with. But the core parts of your business, you have more money in the bank, but not a damn thing changes in the important parts of your business.

verbatim transcript · starts at 3:11