David Solomon, Goldman Sachs’ CEO, known for underwriting major IPOs, suggested that startups should rethink going public during the Cisco AI Summit in Palo Alto, according to Financial Times.
He argued that startups could attain equally ambitious growth and substantial funding through private markets, eliminating the complexities of operating as a public trading entity. “Being a public company isn’t enjoyable,” he stated, questioning the desire to go public.
Instead, Goldman Sachs is lending more support to large private firms, such as aiding Stripe in raising $6.5 billion in 2023. This moves aligns with the growing trend of sizeable tech firms opting to remain private for extended periods.
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