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On What’d You Miss This Week, Joe Weisenthal, Scarlet Fu and Julia Chatterley spoke with Rett Wallace, CEO of Triton Research, about why investors are evaluating tech IPOs all wrong. He told us the underwriters, “whether its two guys and a dog or Goldman Sachs” control all the information and the narrative. Companies don’t have to tell the truth, and there is a lack of transparency, he added. In Rett’s words, “If you’re not a pro, forget it. You’re going to get killed.” Triton Research is trying to fix that with a different way of grading startups looking to go public.
Dale Folwell, the Treasurer of North Carolina, who says his job is a lot like yoga, also came on to talk about his efforts to drive down the cost of health care. The buying power of the Tar Heel state is almost as large as the potential Amazon, J.P. Morgan and Berkshire Hathaway healthcare initiative would be, and Dale is trying to harness that negotiating power amid what he called a “medical arms race” in the health care industry.
Then Bloomberg’s Executive Editor for Global Technology, Tom Giles, joined to wrap up a busy week in tech earnings, including why Facebook investors should be breathing a sigh of relief and the latest challenges for Qualcomm.