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Uber is worth billions and is still private. Photo: Chris J. Ratcliffe/Bloomberg via Getty Images

"Investors, bankers and analysts [expect] a wave of initial public offerings to bring some of the most highly valued and recognizable start-ups to the public market over the next 18 to 24 months," the New York Times' Jack Nicas reports from San Francisco.

Why it matters: That means "billions of dollars in returns to their executives and investors," the report says.

  • "The potential bonanza would follow years of waiting as a few dozen companies amassed valuations without precedent in the private market."
  • "[I]nvestors, who back tiny start-ups with the hope that they will someday go public or be sold for nine- or 10-figure sums, have enjoyed enormous paper gains in recent years. But few have cashed in, because their fast-rising companies, like Uber and Airbnb, have remained private."

Go deeper

35 mins ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: Nursing homes are still getting pummeledU.S. could hit herd immunity by end of summer 2021 if Americans embrace virus vaccines, Fauci says.
  2. Politics: Pelosi, Schumer call on McConnell to adopt bipartisan $900B stimulus framework.
  3. World: U.K. clears Pfizer-BioNTech vaccine for mass rollout — Putin says Russia will begin large-scale vaccination next week.
  4. Business: Investors are finally starting to take their money out of safe-haven Treasuries.
  5. Sports: The end of COVID’s grip on sports may be in sight.

Pelosi, Schumer call on McConnell to adopt bipartisan $900B stimulus framework

House Speaker Nancy Pelosi on Nov. 20. Photo: Drew Angerer/Getty Images

House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) on Wednesday urged Senate Majority Leader Mitch McConnell (R-Ky.) to use a $908 billion bipartisan coronavirus relief framework as a basis for jumpstarting negotiations.

Why it matters: The framework, introduced by a group of bipartisan senators on Tuesday, calls for significantly less funding than Pelosi had previously demanded — a sign that Democrats are ready to further compromise as millions of Americans endure economic hardship.