# Ipo

`kaal:entity:ipo`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `ipo`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 3 works, 2016 to 2020.

**2016**

- [2714974-038](https://wulfkaal.github.io/claims/2714974-038) [predictive/argued] -- Hedge fund and private equity IPOs indicate that the historic contours of the industry as privately held, unregistered, and exempt funds are slowly changing as the industry becomes a more mainstream part of finance.
  > IPOs of hedge and private equity funds suggest that the historic contours of the hedge fund industry as privately-held and managed investment funds, unregistered and exempt from federal securities regulation are slowly changing as the industry becomes a more mainstream part of finance.
  Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974

**2017**

- [3067615-017](https://wulfkaal.github.io/claims/3067615-017) [failure/argued] *(failure mode)* -- Given the advantages of ICOs, traditional regulated IPOs and venture capital funds increasingly fail to adequately capitalize crypto and legacy ventures driven by new economic paradigms.
  > Given these ICO advantages, traditional regulated IPOs and venture capital funds increasingly fail to adequately capitalize crypto and legacy ventures driven by new economic paradigms.
  Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

**2020**

- [3606663-007](https://wulfkaal.github.io/claims/3606663-007) [failure/argued] *(failure mode)* -- Once the staggered private sale discounts of up to fifty percent are counted as a cost of capital, the cost structure of an ICO is arguably significantly higher than that of an IPO, notwithstanding the ICO's lower legal and offering expenses.
  > Considering these steep discounts to incentivize earliest possible investments, the cost structure of ICOs is arguably significantly higher than the cost structure of an IPO.
  Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/ipo.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.