By Miguel Mike Medina
Photo Credit: Yahoo Finance
SpaceX’s IPO has everyone talking about it all month, especially this week, since the event takes place this Friday.
Jenny Johnson, Franklin Templeton President and CEO, stops by to talk about the SpaceX IPO on CNBC Television.
“The good news is anytime you have kind of a sexy IPO that gets everybody excited again about the markets and the opportunities and the innovation story there,” Johnson said. “We’ve got clients calling us, are we in, and we’ve been investing because we have both venture and we’ve been doing late-stage venture in our growth equity funds for over a decade.”
Johnson became the company’s CEO in February 2020. She’s been with the firm since 1988. Many companies stay private. However, there have been companies that have been private for years but then decided that it’s time to go public. Every company has its own journey and story to tell.
“That’s how we actually got into the venture business,” Johnson said. “Our Franklin equity team sits in Silicon Valley, and it was literally over a decade ago. We started to get investments because we were in the ecosystem of venture guys, we started to invest in that late stage, which was equivalent to what used to be the IPO in the public markets.”
Historically, investment bankers have done a good job of managing price and demand. Some might think otherwise, but many might agree that that’s one of the things banks do right by businesses. SpaceX is one of the most successful businesses on the planet.
With this IPO, the markets will open up to be more massive than ever. We could be seeing the start of a brand new change for the better. Change can be scary at first, but time will make things better.
Johnson summed it up with this statement:
“I think in my lifetime, we’re experiencing the greatest technological change, and that will open up opportunities.”
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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