VC-backed megapost-IPOs return -4% annually vs QQQ's 18%, IPO class of $50b+ underperforms
MartinGTobias · x · 2026-10-22
Investor Martin Tobias shares a stark stat with a resigned "Ugh": VC-backed companies with IPOs over $50b have delivered roughly -4% annualized returns since listing, versus about 18% annualized for QQQ over the same period. The figures highlight how this class of mega-IPOs (including AI names) has broadly underperformed the market post-listing — a pointed signal against current private-market valuation and exit narratives.
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