ipo-market
The Agents Are Getting Wallets
Three companies, $GOOGL, OpenAI, and Circle, announced this week that they are building shared infrastructure for agentic payments. At almost the same moment, market analysts started warning that SpaceX and OpenAI going public could signal a top. Most people read those as two separate stories. They are the same one, and reading them together changes…
When the Rails Go Public
Jason Gardner was sitting in a sushi restaurant in San Francisco in 2010 when he pulled out his wallet and found a stack of coupons, gift cards, and Groupons. The friction didn’t come from not having money. It came from having too many ways to move it, each one a separate little protocol with its…