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Quote of the day

“WeWork’s disastrous IPO attempt has triggered reverberations across the industry. The theme of consumer tech has shifted from magic to margins. Venture capitalists and start-up founders alike have re-embraced an old mantra: Profits matter.” – Derek Thompson

Chart of the day

What happened to the Smile Direct Club ($SDC) IPO?  (Crunchbase, chart by Koyfin)