Stephanie Flanders

We're trying to find best growth companies wherever we can find them.

And often you find them in areas where people aren't looking.

Peter, I wish we could do 30 minutes with you.

We can't.

Very simply, things have changed.

You have retail investors coming in via these big SPVs, pension funds I talked about with SpaceX, and then basically golf sovereign money.

How is that changing the market for you?

And again, let's go back to valuations in that context.

I think the truth is private markets are not democratic markets.

So companies still get to choose their investors and companies will still anchor towards or steer towards value added partners and partners who they believe will be with them for the long term and can support them.

But I think it's really important to point out that the demand and appetite for these kind of large late stage growth companies is very rational.

To give you one very tangible example, Tesla went public in 2010 at a $2 billion valuation.

Today, SpaceX is still private, valued at $800 billion.

So there's a 400x difference there that historically the public markets had access to.

And today that growth is happening in the private markets.

So I think it's perfectly right that people are wanting to get access to these companies.

And I guess the journey that we've been on over the last 14 years has been helping our clients maintain their exposure to the growth of these world-beating companies, despite them remaining private for longer.

Peter Singlehurst, Head of Private Companies at Bayer Gifford, really grateful for your time on Bloomberg Tech.

Thank you very much.

Amazon's preparing to let go of thousands more corporate employees.