Rick Baker, Co-Founder at Blackbird Ventures says that there are both good and bad startups listing on the ASX and investors need to be able to distinguish between the two. “The good type is a company that’s got around $10m in revenue (or more), is probably breakeven, profitable or very close to being so. Has really proven out its product/market fit. That’s the main thing. The level of $10m of revenue means that you’ve got a product that people really like.” In this video Baker also outlines the types of companies that he doesn’t think should be listed and what the big red-flags are:
Great Video, any particular stocks you like? Do you see more companies in the space using ASX as a platform or do you think you might see others like Atlassian move offshore?
He's dreaming. This is self-serving nonsense. There goes Australia's speculative mining sector. It's partly why we don't have a massive listed tech sector. I've been listening to this argument from venture capitalists for over 20 years and it's wrong.
There is plenty of self serving that goes on in speculative exploration as well. The sector does itself no favours