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Photo courtesy of Soxton
Three hours after hopping off an Amtrak at Newark from Boston on Tuesday, I found myself staring at an ice sculpture of a bull in a converted Gothic-style seminary hall on the west side of Manhattan.
The bull was the centerpiece of an IPO-themed party — and it was melting.
Symbolic, I thought.
Another company had delayed its IPO that day — a fourth pause in less than two weeks.
Let’s back up
The company was Oura, the smart-ring maker. And its postponement on Tuesday (Sept. 29) came after nuclear tech company Holtec (Sept. 16), home insurer Bamboo Insurance (Sept. 22), and metal powder manufacturer Amaero (Sept. 23) shelved theirs.
Holtec blamed “impaired investor confidence” toward IPOs and days later withdrew its IPO filing entirely.
Bamboo reportedly paused over market conditions, per Bloomberg.
Amaero noted “adverse market conditions” for delaying its U.S. listing.
Oura pointed to “uncertainty in the IPO market” in its official announcement.
Back at the party
I had a slice of pepperoni pizza, then pulled aside host Logan Brown, CEO and founder of legal AI startup Soxton, to get her quick view on the pause:
“I think that all of the back and forth between the frontier models, like OpenAI and Anthropic, is really just causing mass confusion all around,” she told me.
“People are just trying to wait for the markets to steady themselves before they make any sorts of these decisions.”
As for her own plans to go public?
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