Ben Eisen

speaker

1,467 appearances 35 recordings 1 series first heard Jul 2017 last heard Nov 2024

Ben Eisen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Stock Market Being Reshaped by Rise in Private Markets · 21 Aug 2018 podcast

There's less of a sort of constraint that companies need to say something to the public every quarter and that their share prices are kind of held hostage to that. matched

And I think that's something that a lot of companies are increasingly looking at with a bit of fondness. matched

Right, absolutely. matched

Privately held companies don't necessarily have to publicly report earnings every quarter. matched

They still report to their shareholders, but there's less of a sort of constraint that companies need to say something to the public every quarter and that their share prices are kind of held hostage to that. matched

And I think that's something that a lot of companies are increasingly looking at with a bit of fondness. matched

Yeah, absolutely. matched

President Trump sort of suggested that this would be something that would benefit companies, and a lot of people do agree. matched

sort of agree either with this specific element or sort of more generally with the concept of it, that companies that have a bit more room, that don't have to give guidance every quarter, that don't have to sort of queue up what shareholders believe about a company, have a bit more room to maneuver. matched

On the other hand, a lot of people say that this would kind of limit the amount of transparency that companies offer to shareholders. matched

And especially people who hold the stock like to see what a company is doing every quarter and where its revenues are going and what profits look like and what it expects for the rest of the year. matched

So to kind of limit that is something that a lot of folks do not like. matched

Yeah, it's interesting that this happened right before President Trump tweeted about this sort of related topic here, because Elon Musk has really said that he thinks that the public company nature of Tesla has made it difficult for the company to sort of be the best company that can be. matched

He has said that he thinks that a private company would be a better way to operate. matched

He said that it would accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible. matched

So in some sense, he's kind of a poster child for this longing for a private markets-like attitude towards running a company. matched

Right, and just his tweet and talk about taking the company private has elicited its own scrutiny. matched

So that's not to say that anything regarding taking Tesla private is a done deal or anything even close to it. matched

I mean, it can be for a lot of companies that are young and that are growing quickly. matched

One thing that you notice is that because there's so much venture capital and cheap debt that's available to companies as they grow, you're seeing companies that do end up going public, they're going public a lot later than they used to. matched

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