Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Uber CEO Dara Khosrowshahi. Photo: Gerard Julien/AFP/Getty Images

Two of the most eagerly watched startups in tech, Uber and Airbnb, both indicated yesterday that they may go public in 2019.

Why it matters: Private financing has way outpaced IPO fundraising in tech since the '90s, as shown by one of Kleiner Perkins partner Mary Meeker's slides.

  • But despite the rise of private billion-dollar "unicorns," and a growing concern that publicly traded companies sacrifice long-term vision for short-term concerns, IPOs remain the tech business's holy grail.
  • After all, IPOs can transmute the blood, sweat, and tears of startup labor into personal wealth and give VC firms the exits they need to help fund their next round of startup investments.

Airbnb CEO Brian Chesky said Tuesday that his company will be ready to go public next year, though whether it will do so has not yet been decided.

  • "I want to make sure it is a major benefit to the company if we do... It could happen," he said at Recode's 2018 Code Conference in Rancho Palos Verdes, Calif.

Uber CEO Dara Khosrowshahi expressed similar ambitions in a CNBC interview and on stage at Code, though he was less equivocal.

  • "2019. Second half," he said, adding, "I need a CFO though."
  • Interviewer Kara Swisher suggested he find the right woman for the job. "I don't know if it will be a woman or a man, but I am going to make damn sure I look at both," Khosrowshahi replied.

Meanwhile, two fairly recent IPO companies, Spotify and Stitch Fix, shared their lessons learned.

  • Spotify CEO Daniel Ek talked about being punished by Wall Street for only matching earnings expectations in its first public earnings report — even though it had given guidance just 10 days before the quarter's end.
  • Stitch Fix CEO Katrina Lake shared her experiences, expressing regret that expectations got so far ahead of the company, especially since its $1.5 billion valuation was far more than the $300 million valuation it had when it had last raised money.

Go deeper

Biden will reverse Trump's attempt to lift COVID related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.

Off the Rails

Episode 5: The secret CIA plan

Photo illustration: Aïda Amer, Sarah Grillo/Axios. Photo: Zach Gibson/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 5: Trump vs. Gina — The president becomes increasingly rash and devises a plan to tamper with the nation's intelligence command.

In his final weeks in office, after losing the election to Joe Biden, President Donald Trump embarked on a vengeful exit strategy that included a hasty and ill-thought-out plan to jam up CIA Director Gina Haspel by firing her top deputy and replacing him with a protege of Republican Congressman Devin Nunes.