Horowitz: Startups Now Need Around $1B in Revenue to IPO
Ben Horowitz · Why The Laws of Startup Physics Have Changed | Ben Horowitz Interview · Invest Like The Best · Feb 3, 2026 · at 39:45
Ben Horowitz discusses how capital market dynamics have shifted since the dot-com era, forcing startups to stay private longer and generate far more revenue before going public.
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“Companies used to go public routinely with fifty million dollars in revenue. That wasn't a good idea, but companies used to go public routinely with fifty million dollars in revenue. That wasn't a good idea, but companies used to go public routinely with fifty million dollars in revenue. It was fine. You know, now nobody's going public. A billion, right? Like you get to go public or something like that. And if, and you're kind of small if you don't have that.”
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