Quote of the Day

"A short-seller is a professional conspiracy theorist, who believes They're Hiding Something, sets out to prove it, and expresses this view with both a manifesto and some put options. The bad short sellers go out of business, and the good ones put bad companies out of business."

(Byrne Hobart)

Chart of the Day

Airbnb, Pinterest and Snowflake stand out as VC-backed companies from the past decade that are actually trading above their IPO values. (chart via @ycharts)