Most of the bad ones IPOd in 2021, when there was a huge overvaluation of speculative tech companies... Marking performance since IPO is also a bit weird since it's kind of arbitrary date in the firm's history.
They have collectively had a return of -49% when the S&P 500 have had a return of 58%. It shows that all of the value went to the VCs and the public markets were the “bigger fools”.
