WEBVTT	#Elemental Media Engine(TM) 2.16.0.601857

00:00:01.501 --> 00:00:01.634
ARE

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ARE STILL

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ARE STILL OUTPERFORMING

00:00:03.036 --> 00:00:03.269
ARE STILL OUTPERFORMING THIS

00:00:03.269 --> 00:00:03.303
ARE STILL OUTPERFORMING THIS
YEAR

00:00:03.303 --> 00:00:03.470
YEAR

00:00:03.470 --> 00:00:03.837
YEAR
KATE

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YEAR
KATE ROONEY

00:00:04.571 --> 00:00:05.005
YEAR
KATE ROONEY JOINS

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YEAR
KATE ROONEY JOINS US

00:00:06.106 --> 00:00:06.239
YEAR
KATE ROONEY JOINS US WITH

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YEAR
KATE ROONEY JOINS US WITH MORE

00:00:06.306 --> 00:00:06.439
KATE ROONEY JOINS US WITH MORE

00:00:06.439 --> 00:00:06.573
KATE ROONEY JOINS US WITH MORE
HEY,

00:00:06.573 --> 00:00:06.673
KATE ROONEY JOINS US WITH MORE
HEY, KATE.

00:00:06.673 --> 00:00:07.007
HEY, KATE.

00:00:07.007 --> 00:00:07.540
HEY, KATE.
>>

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HEY, KATE.
>> HI,

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HEY, KATE.
>> HI, CARL.

00:00:07.874 --> 00:00:08.008
>> HI, CARL.

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>> HI, CARL.
TURNS

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>> HI, CARL.
TURNS OUT

00:00:08.675 --> 00:00:08.942
>> HI, CARL.
TURNS OUT STRUGGLES

00:00:08.942 --> 00:00:09.409
>> HI, CARL.
TURNS OUT STRUGGLES OF

00:00:09.409 --> 00:00:10.110
>> HI, CARL.
TURNS OUT STRUGGLES OF MEGA

00:00:10.110 --> 00:00:10.143
>> HI, CARL.
TURNS OUT STRUGGLES OF MEGA IPOs

00:00:10.143 --> 00:00:10.510
TURNS OUT STRUGGLES OF MEGA IPOs

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TURNS OUT STRUGGLES OF MEGA IPOs
ARE

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TURNS OUT STRUGGLES OF MEGA IPOs
ARE NOT

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TURNS OUT STRUGGLES OF MEGA IPOs
ARE NOT GREAT

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TURNS OUT STRUGGLES OF MEGA IPOs
ARE NOT GREAT INDICATOR

00:00:12.445 --> 00:00:12.479
TURNS OUT STRUGGLES OF MEGA IPOs
ARE NOT GREAT INDICATOR OF

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ARE NOT GREAT INDICATOR OF

00:00:14.147 --> 00:00:14.381
ARE NOT GREAT INDICATOR OF
OVERALL

00:00:14.381 --> 00:00:14.414
ARE NOT GREAT INDICATOR OF
OVERALL PERFORMANCE.

00:00:14.414 --> 00:00:14.547
OVERALL PERFORMANCE.

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OVERALL PERFORMANCE.
IPOs

00:00:14.748 --> 00:00:15.215
OVERALL PERFORMANCE.
IPOs AS

00:00:15.215 --> 00:00:15.415
OVERALL PERFORMANCE.
IPOs AS A

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OVERALL PERFORMANCE.
IPOs AS A WHOLE

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OVERALL PERFORMANCE.
IPOs AS A WHOLE DID

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OVERALL PERFORMANCE.
IPOs AS A WHOLE DID WELL

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IPOs AS A WHOLE DID WELL

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IPOs AS A WHOLE DID WELL
THE

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IPOs AS A WHOLE DID WELL
THE INDEX

00:00:19.886 --> 00:00:19.953
IPOs AS A WHOLE DID WELL
THE INDEX OUTPERFORMED

00:00:19.953 --> 00:00:20.086
IPOs AS A WHOLE DID WELL
THE INDEX OUTPERFORMED THE

00:00:20.086 --> 00:00:20.120
IPOs AS A WHOLE DID WELL
THE INDEX OUTPERFORMED THE S&P

00:00:20.120 --> 00:00:20.220
THE INDEX OUTPERFORMED THE S&P

00:00:20.220 --> 00:00:20.320
THE INDEX OUTPERFORMED THE S&P
IN

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THE INDEX OUTPERFORMED THE S&P
IN WHAT'S

00:00:20.787 --> 00:00:20.854
THE INDEX OUTPERFORMED THE S&P
IN WHAT'S LOOKING

00:00:20.854 --> 00:00:20.887
THE INDEX OUTPERFORMED THE S&P
IN WHAT'S LOOKING TO

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THE INDEX OUTPERFORMED THE S&P
IN WHAT'S LOOKING TO BE

00:00:21.521 --> 00:00:21.688
THE INDEX OUTPERFORMED THE S&P
IN WHAT'S LOOKING TO BE A

00:00:21.688 --> 00:00:23.223
IN WHAT'S LOOKING TO BE A

00:00:23.223 --> 00:00:23.289
IN WHAT'S LOOKING TO BE A
HISTORIC

00:00:23.289 --> 00:00:24.924
IN WHAT'S LOOKING TO BE A
HISTORIC YEAR

00:00:24.924 --> 00:00:26.259
IN WHAT'S LOOKING TO BE A
HISTORIC YEAR FOR

00:00:26.259 --> 00:00:26.292
IN WHAT'S LOOKING TO BE A
HISTORIC YEAR FOR STOCKS

00:00:26.292 --> 00:00:26.626
HISTORIC YEAR FOR STOCKS

00:00:26.626 --> 00:00:26.960
HISTORIC YEAR FOR STOCKS
33%

00:00:26.960 --> 00:00:27.394
HISTORIC YEAR FOR STOCKS
33% GAIN

00:00:27.394 --> 00:00:27.627
HISTORIC YEAR FOR STOCKS
33% GAIN VERSUS

00:00:27.627 --> 00:00:28.294
HISTORIC YEAR FOR STOCKS
33% GAIN VERSUS ROUGHLY

00:00:28.294 --> 00:00:30.130
HISTORIC YEAR FOR STOCKS
33% GAIN VERSUS ROUGHLY 29%

00:00:30.130 --> 00:00:30.163
HISTORIC YEAR FOR STOCKS
33% GAIN VERSUS ROUGHLY 29% GAIN

00:00:30.163 --> 00:00:30.263
33% GAIN VERSUS ROUGHLY 29% GAIN

00:00:30.263 --> 00:00:31.231
33% GAIN VERSUS ROUGHLY 29% GAIN
FOR

00:00:31.231 --> 00:00:31.531
33% GAIN VERSUS ROUGHLY 29% GAIN
FOR THE

00:00:31.531 --> 00:00:31.564
33% GAIN VERSUS ROUGHLY 29% GAIN
FOR THE S&P.

00:00:31.564 --> 00:00:31.765
FOR THE S&P.

00:00:31.765 --> 00:00:32.165
FOR THE S&P.
BIOTECH,

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FOR THE S&P.
BIOTECH, MEDICAL

00:00:32.532 --> 00:00:32.665
FOR THE S&P.
BIOTECH, MEDICAL DEVICE

00:00:32.665 --> 00:00:32.866
BIOTECH, MEDICAL DEVICE

00:00:32.866 --> 00:00:32.932
BIOTECH, MEDICAL DEVICE
COMPANIES

00:00:32.932 --> 00:00:33.266
BIOTECH, MEDICAL DEVICE
COMPANIES ARE

00:00:33.266 --> 00:00:33.800
BIOTECH, MEDICAL DEVICE
COMPANIES ARE BIG

00:00:33.800 --> 00:00:33.833
BIOTECH, MEDICAL DEVICE
COMPANIES ARE BIG WINNERS,

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COMPANIES ARE BIG WINNERS,

00:00:34.000 --> 00:00:34.234
COMPANIES ARE BIG WINNERS,
THANKS

00:00:34.234 --> 00:00:34.667
COMPANIES ARE BIG WINNERS,
THANKS TO

00:00:34.667 --> 00:00:35.268
COMPANIES ARE BIG WINNERS,
THANKS TO THE

00:00:35.268 --> 00:00:35.502
COMPANIES ARE BIG WINNERS,
THANKS TO THE FDA

00:00:35.502 --> 00:00:35.668
COMPANIES ARE BIG WINNERS,
THANKS TO THE FDA APPROVING

00:00:35.668 --> 00:00:36.403
THANKS TO THE FDA APPROVING

00:00:36.403 --> 00:00:36.703
THANKS TO THE FDA APPROVING
DRUGS

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THANKS TO THE FDA APPROVING
DRUGS FASTER

00:00:38.805 --> 00:00:42.809
THANKS TO THE FDA APPROVING
DRUGS FASTER THAN

00:00:42.809 --> 00:00:42.976
THANKS TO THE FDA APPROVING
DRUGS FASTER THAN INVESTORS

00:00:42.976 --> 00:00:43.176
DRUGS FASTER THAN INVESTORS

00:00:43.176 --> 00:00:43.209
DRUGS FASTER THAN INVESTORS
EXPECTED

00:00:43.209 --> 00:00:43.376
EXPECTED

00:00:43.376 --> 00:00:43.443
EXPECTED
KARUNA

00:00:43.443 --> 00:00:43.510
EXPECTED
KARUNA THEY

00:00:43.510 --> 00:00:43.576
EXPECTED
KARUNA THEY ARE

00:00:43.576 --> 00:00:50.650
EXPECTED
KARUNA THEY ARE A

00:00:50.650 --> 00:00:51.551
EXPECTED
KARUNA THEY ARE A PUTIN

00:00:51.551 --> 00:00:51.584
EXPECTED
KARUNA THEY ARE A PUTINS.

00:00:51.584 --> 00:00:51.785
KARUNA THEY ARE A PUTINS.

00:00:51.785 --> 00:00:52.052
KARUNA THEY ARE A PUTINS.
AND

00:00:52.052 --> 00:00:52.452
KARUNA THEY ARE A PUTINS.
AND UBER

00:00:52.452 --> 00:00:52.552
KARUNA THEY ARE A PUTINS.
AND UBER AND

00:00:52.552 --> 00:00:52.786
KARUNA THEY ARE A PUTINS.
AND UBER AND LYFT

00:00:52.786 --> 00:00:52.886
KARUNA THEY ARE A PUTINS.
AND UBER AND LYFT AND

00:00:52.886 --> 00:00:53.019
KARUNA THEY ARE A PUTINS.
AND UBER AND LYFT AND SMILE

00:00:53.019 --> 00:00:53.186
AND UBER AND LYFT AND SMILE

00:00:53.186 --> 00:00:53.253
AND UBER AND LYFT AND SMILE
DIRECT

00:00:53.253 --> 00:00:53.653
AND UBER AND LYFT AND SMILE
DIRECT ARE

00:00:53.653 --> 00:00:53.720
AND UBER AND LYFT AND SMILE
DIRECT ARE SOME

00:00:53.720 --> 00:00:54.287
AND UBER AND LYFT AND SMILE
DIRECT ARE SOME OF

00:00:54.287 --> 00:00:55.155
AND UBER AND LYFT AND SMILE
DIRECT ARE SOME OF THE

00:00:55.155 --> 00:00:55.188
AND UBER AND LYFT AND SMILE
DIRECT ARE SOME OF THE BIGGEST

00:00:55.188 --> 00:00:55.488
DIRECT ARE SOME OF THE BIGGEST

00:00:55.488 --> 00:00:55.588
DIRECT ARE SOME OF THE BIGGEST
UNDERPERFORMERS

00:00:55.588 --> 00:00:55.855
DIRECT ARE SOME OF THE BIGGEST
UNDERPERFORMERS WHEN

00:00:55.855 --> 00:00:56.222
DIRECT ARE SOME OF THE BIGGEST
UNDERPERFORMERS WHEN YOU

00:00:56.222 --> 00:00:56.256
DIRECT ARE SOME OF THE BIGGEST
UNDERPERFORMERS WHEN YOU ACCOUNT

00:00:56.256 --> 00:00:56.389
UNDERPERFORMERS WHEN YOU ACCOUNT

00:00:56.389 --> 00:00:56.990
UNDERPERFORMERS WHEN YOU ACCOUNT
FOR

00:00:56.990 --> 00:00:57.424
UNDERPERFORMERS WHEN YOU ACCOUNT
FOR MARKET

00:00:57.424 --> 00:00:57.457
UNDERPERFORMERS WHEN YOU ACCOUNT
FOR MARKET CAP

00:00:57.457 --> 00:00:57.590
FOR MARKET CAP

00:00:57.590 --> 00:00:57.924
FOR MARKET CAP
RIDE

00:00:57.924 --> 00:00:58.158
FOR MARKET CAP
RIDE HAILING

00:00:58.158 --> 00:00:59.059
FOR MARKET CAP
RIDE HAILING GIANTS

00:00:59.059 --> 00:00:59.192
FOR MARKET CAP
RIDE HAILING GIANTS ARE

00:00:59.192 --> 00:00:59.259
FOR MARKET CAP
RIDE HAILING GIANTS ARE DOWN

00:00:59.259 --> 00:00:59.392
RIDE HAILING GIANTS ARE DOWN

00:00:59.392 --> 00:00:59.893
RIDE HAILING GIANTS ARE DOWN
ABOUT

00:00:59.893 --> 00:01:01.494
RIDE HAILING GIANTS ARE DOWN
ABOUT 30%

00:01:01.494 --> 00:01:01.928
RIDE HAILING GIANTS ARE DOWN
ABOUT 30% SINCE

00:01:01.928 --> 00:01:01.961
RIDE HAILING GIANTS ARE DOWN
ABOUT 30% SINCE LISTING.

00:01:01.961 --> 00:01:02.095
ABOUT 30% SINCE LISTING.

00:01:02.095 --> 00:01:02.195
ABOUT 30% SINCE LISTING.
TECH

00:01:02.195 --> 00:01:02.462
ABOUT 30% SINCE LISTING.
TECH NAMES

00:01:02.462 --> 00:01:02.629
ABOUT 30% SINCE LISTING.
TECH NAMES TOWARDS

00:01:02.629 --> 00:01:02.896
ABOUT 30% SINCE LISTING.
TECH NAMES TOWARDS THE

00:01:02.896 --> 00:01:03.196
ABOUT 30% SINCE LISTING.
TECH NAMES TOWARDS THE TOP

00:01:03.196 --> 00:01:03.363
ABOUT 30% SINCE LISTING.
TECH NAMES TOWARDS THE TOP OF

00:01:03.363 --> 00:01:03.530
TECH NAMES TOWARDS THE TOP OF

00:01:03.530 --> 00:01:03.897
TECH NAMES TOWARDS THE TOP OF
THE

00:01:03.897 --> 00:01:04.130
TECH NAMES TOWARDS THE TOP OF
THE LIST

00:01:04.130 --> 00:01:04.564
TECH NAMES TOWARDS THE TOP OF
THE LIST FIFTH

00:01:04.564 --> 00:01:04.998
TECH NAMES TOWARDS THE TOP OF
THE LIST FIFTH YEAR

00:01:04.998 --> 00:01:05.165
TECH NAMES TOWARDS THE TOP OF
THE LIST FIFTH YEAR STRAIGHT,

00:01:05.165 --> 00:01:05.432
THE LIST FIFTH YEAR STRAIGHT,

00:01:05.432 --> 00:01:05.765
THE LIST FIFTH YEAR STRAIGHT,
KATHY

00:01:05.765 --> 00:01:06.199
THE LIST FIFTH YEAR STRAIGHT,
KATHY SMITH

00:01:06.199 --> 00:01:06.566
THE LIST FIFTH YEAR STRAIGHT,
KATHY SMITH OF

00:01:06.566 --> 00:01:06.599
THE LIST FIFTH YEAR STRAIGHT,
KATHY SMITH OF RENAISSANCE

00:01:06.599 --> 00:01:06.766
KATHY SMITH OF RENAISSANCE

00:01:06.766 --> 00:01:07.167
KATHY SMITH OF RENAISSANCE
SAYING

00:01:07.167 --> 00:01:07.400
KATHY SMITH OF RENAISSANCE
SAYING THE

00:01:07.400 --> 00:01:08.701
KATHY SMITH OF RENAISSANCE
SAYING THE BROADER

00:01:08.701 --> 00:01:08.735
KATHY SMITH OF RENAISSANCE
SAYING THE BROADER IPO

00:01:08.735 --> 00:01:08.968
SAYING THE BROADER IPO

00:01:08.968 --> 00:01:09.102
SAYING THE BROADER IPO
RESILIENCE

00:01:09.102 --> 00:01:10.136
SAYING THE BROADER IPO
RESILIENCE SHOWS

00:01:10.136 --> 00:01:10.170
SAYING THE BROADER IPO
RESILIENCE SHOWS THERE'S

00:01:10.170 --> 00:01:10.370
RESILIENCE SHOWS THERE'S

00:01:10.370 --> 00:01:10.603
RESILIENCE SHOWS THERE'S
APPETITE

00:01:10.603 --> 00:01:11.004
RESILIENCE SHOWS THERE'S
APPETITE FOR

00:01:11.004 --> 00:01:11.671
RESILIENCE SHOWS THERE'S
APPETITE FOR HIGH

00:01:11.671 --> 00:01:11.704
RESILIENCE SHOWS THERE'S
APPETITE FOR HIGH GROWTH

00:01:11.704 --> 00:01:11.938
APPETITE FOR HIGH GROWTH

00:01:11.938 --> 00:01:12.272
APPETITE FOR HIGH GROWTH
COMPANIES,

00:01:12.272 --> 00:01:12.405
APPETITE FOR HIGH GROWTH
COMPANIES, JUST

00:01:12.405 --> 00:01:12.972
APPETITE FOR HIGH GROWTH
COMPANIES, JUST NOT

00:01:12.972 --> 00:01:13.406
APPETITE FOR HIGH GROWTH
COMPANIES, JUST NOT BIG

00:01:13.406 --> 00:01:13.573
APPETITE FOR HIGH GROWTH
COMPANIES, JUST NOT BIG MONEY

00:01:13.573 --> 00:01:13.740
COMPANIES, JUST NOT BIG MONEY

00:01:13.740 --> 00:01:13.873
COMPANIES, JUST NOT BIG MONEY
LOSING

00:01:13.873 --> 00:01:14.174
COMPANIES, JUST NOT BIG MONEY
LOSING NAMES

00:01:14.174 --> 00:01:14.374
COMPANIES, JUST NOT BIG MONEY
LOSING NAMES WITH

00:01:14.374 --> 00:01:14.507
COMPANIES, JUST NOT BIG MONEY
LOSING NAMES WITH A

00:01:14.507 --> 00:01:14.908
COMPANIES, JUST NOT BIG MONEY
LOSING NAMES WITH A CLEAR

00:01:14.908 --> 00:01:14.941
COMPANIES, JUST NOT BIG MONEY
LOSING NAMES WITH A CLEAR PATH

00:01:14.941 --> 00:01:15.909
LOSING NAMES WITH A CLEAR PATH

00:01:15.909 --> 00:01:16.342
LOSING NAMES WITH A CLEAR PATH
TO

00:01:16.342 --> 00:01:16.376
LOSING NAMES WITH A CLEAR PATH
TO PROFITABILITY

00:01:16.376 --> 00:01:18.044
TO PROFITABILITY

00:01:18.044 --> 00:01:18.144
TO PROFITABILITY
WE

00:01:18.144 --> 00:01:18.211
TO PROFITABILITY
WE CAN'T

00:01:18.211 --> 00:01:18.311
TO PROFITABILITY
WE CAN'T TALK

00:01:18.311 --> 00:01:19.012
TO PROFITABILITY
WE CAN'T TALK ABOUT

00:01:19.012 --> 00:01:20.046
TO PROFITABILITY
WE CAN'T TALK ABOUT IPOs

00:01:20.046 --> 00:01:20.080
TO PROFITABILITY
WE CAN'T TALK ABOUT IPOs WITHOUT

00:01:20.080 --> 00:01:20.313
WE CAN'T TALK ABOUT IPOs WITHOUT

00:01:20.313 --> 00:01:20.780
WE CAN'T TALK ABOUT IPOs WITHOUT
MENTIONING

00:01:20.780 --> 00:01:21.314
WE CAN'T TALK ABOUT IPOs WITHOUT
MENTIONING WEWORK,

00:01:21.314 --> 00:01:21.681
WE CAN'T TALK ABOUT IPOs WITHOUT
MENTIONING WEWORK, THE

00:01:21.681 --> 00:01:21.848
WE CAN'T TALK ABOUT IPOs WITHOUT
MENTIONING WEWORK, THE POSTER

00:01:21.848 --> 00:01:21.981
MENTIONING WEWORK, THE POSTER

00:01:21.981 --> 00:01:22.048
MENTIONING WEWORK, THE POSTER
CHILD

00:01:22.048 --> 00:01:22.515
MENTIONING WEWORK, THE POSTER
CHILD FOR

00:01:22.515 --> 00:01:23.149
MENTIONING WEWORK, THE POSTER
CHILD FOR PRIVATE

00:01:23.149 --> 00:01:23.316
MENTIONING WEWORK, THE POSTER
CHILD FOR PRIVATE VALUATIONS,

00:01:23.316 --> 00:01:23.416
CHILD FOR PRIVATE VALUATIONS,

00:01:23.416 --> 00:01:24.050
CHILD FOR PRIVATE VALUATIONS,
NOT

00:01:24.050 --> 00:01:24.250
CHILD FOR PRIVATE VALUATIONS,
NOT ALWAYS

00:01:24.250 --> 00:01:24.684
CHILD FOR PRIVATE VALUATIONS,
NOT ALWAYS TRANSLATING

00:01:24.684 --> 00:01:25.418
CHILD FOR PRIVATE VALUATIONS,
NOT ALWAYS TRANSLATING TO

00:01:25.418 --> 00:01:25.452
CHILD FOR PRIVATE VALUATIONS,
NOT ALWAYS TRANSLATING TO PUBLIC

00:01:25.452 --> 00:01:25.652
NOT ALWAYS TRANSLATING TO PUBLIC

00:01:25.652 --> 00:01:25.685
NOT ALWAYS TRANSLATING TO PUBLIC
MARKETS.

00:01:25.685 --> 00:01:25.819
MARKETS.

00:01:25.819 --> 00:01:25.852
MARKETS.
SURE

00:01:25.852 --> 00:01:26.152
MARKETS.
SURE TO

00:01:26.152 --> 00:01:26.753
MARKETS.
SURE TO BE

00:01:26.753 --> 00:01:26.953
MARKETS.
SURE TO BE TOP

00:01:26.953 --> 00:01:27.220
MARKETS.
SURE TO BE TOP OF

00:01:27.220 --> 00:01:27.454
MARKETS.
SURE TO BE TOP OF MIND

00:01:27.454 --> 00:01:27.720
MARKETS.
SURE TO BE TOP OF MIND FOR

00:01:27.720 --> 00:01:27.754
MARKETS.
SURE TO BE TOP OF MIND FOR A

00:01:27.754 --> 00:01:29.622
SURE TO BE TOP OF MIND FOR A

00:01:29.622 --> 00:01:29.756
SURE TO BE TOP OF MIND FOR A
LIST

00:01:29.756 --> 00:01:30.123
SURE TO BE TOP OF MIND FOR A
LIST OF

00:01:30.123 --> 00:01:30.156
SURE TO BE TOP OF MIND FOR A
LIST OF COMPANIES