There have been winners and losers on the tech IPOs of the past 5yrs. I'm curious how you differentiate the losers from the winners since some of the tech IPOs have done quite well.
(although, to be fair, Blue Apron is an obvious case of the next groupon.)
I think the general trend is to IPO much later at a very high valuation so the company needs to be an enormous success for retail investors to just break even. There is just not much upside left.
It's also bad for regular employees. They have to stay on for very long before can make some money.
(although, to be fair, Blue Apron is an obvious case of the next groupon.)