The winners and losers in Instacart’s IPO

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The winners and losers in Instacart’s IPO
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A lesson in timing. Also: Microsoft’s big leak, and Google’s dirty laundry.

This week’s Instacart IPO is a big milestone for the tech industry. It’s the first major, venture-backed consumer tech company to hit the public markets since the end of 2021, when interest rates were still low.

Joining a startup at the earliest stage gives someone the potential to earn the most outsized upside from the stock. In the case of Instacart, I found

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