Daniel Petre, one of Australia’s most successful technology investors, has backed efforts to curb the flow of early stage technology listings on the ASX. The issue according to Petre is that the market for tech stocks is relatively thin and there is no quality filter for the companies. He says investors are seeing what is happening in the United States and are getting caught up in the promises of ‘over-excited’ analysts and brokers. “A lot of these companies have come to the professional investment sector and we’ve said “you’ve got to be joking” and the next thing they are listed on the ASX. Some of them are ok companies where the valuation is nuts and some of them both things are nuts. It’s a nutty idea and a nutty valuation.” Watch the full discussion for more detail and why early listings are not just bad for investors but also detrimental to the companies themselves.