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You can't today invest in their IPO 16 years ago.

16 years is a long time to be wrong. That's a tremendous amount of money to have given up for fear of insolvency.

Survivorship bias: many IPOs since then have underperformed. If you cherry-pick all the ones that did, then IPOs look like an outrageously fantastic bet.

You have to bet on the IPO knowing only the information at the time, not knowing what the future growth of the stock was.

You didn't have to bet on the IPO, it didn't go up 29,000% in a day.

Binlog simply pointed out that this firm's research is as good as a coin flip for tech. They have been suggesting shorting Tesla for 13 years. That's a lot of 'in the future' and a very long time to be wrong.

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