This article explores the unpredictable nature of IPO pricing and the factors influencing day-one stock performance. It highlights the misaligned incentives among companies, banks, and investors, and explains how market conditions and algorithms contribute to volatility.

An exclusive interview with Jason Pate from Plaid highlights the current state of the fintech industry, where $50 billion in IPOs are on hold amid market volatility. The discussion explores the performance of various sectors, including lending and crypto, while also offering advice to founders on navigating this challenging environment.