The IPO Comeback: Why Tech Giants Are Finally Going Public | All-In Liquidity IPO Panel
June 6, 2026
AI Summary
5 min readIn Davos, Jason Calacanis was issued a special green badge that read "Jason McCabe Calicanis with Donald J. Trump." He found it hilarious. The moment captures the surreal energy of the World Economic Forum, but the conversation that followed was grounded in two very real and very large technological shifts: the rebirth of custom silicon for AI and the migration of data processing into space. The panel brought together Andrew Feldman, founder and CEO of Cerebras Systems, which designs a dinner-plate-sized AI chip, and Will Marshall, founder and CEO of Planet Labs, which operates the largest fleet of Earth-imaging satellites. Both companies are newly public, and the discussion covered what that transition actually feels like, how their respective industries are being reshaped, and where the next decade of compute is headed.
The Reality of Going Public
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What you'll learn
- 1 (01:26) **Opening Banter & Davos Anecdote** - Jason tells a story about canceling a ski trip to attend Davos with a special badge
- 2 (02:25) **Introducing the CEOs & Their Sectors** - Host introduces Andrew Feldman (Cerebras, AI silicon) and Will Marshall (Planet Labs, space data centers)
- 3 (02:54) **The Reality of Going Public** - Founders share candid experiences of the IPO process
- 4 (04:42) **Cerebras’s Hard Path to IPO** - Brad Gerstner recounts Cerebras’s decade-long struggle to go public, from investor issues to timing
- 5 (06:03) **Employee Morale & The IPO Party** - Andrew describes the emotional impact on employees, especially families of immigrants
- 6 (08:17) **Planet Labs’ 10X Public Market Journey** - Will explains how Planet went from a $5 stock to $50, with most value created after going public
- 7 (10:33) **Planet’s Business Model & Military Revenue** - Will defines Planet’s Earth imaging fleet (200 satellites, daily global imagery) and its use cases
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
(0:00) CEOs Andrew Feldman (Cerebras) and Will Marshall (Planet Labs) join the Besties!
(2:05) Both CEOs on going public: Impact on employees, customers, and business operations
(13:18) Timelines for datacenters in space
(19:28) Cerebras business breakdown, AI's impact on the silicon market
(24:45) How Founder/CEOs think about liquidity on the road to going public
Thanks to our partners for making this possible!
EY - Great tech starts with a big idea. From startup to scale, EY helps tech founders get financials right early so they can focus on what's next.
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NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE.
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