Dara Albright Discusses IPOs, Innovation and Next Steps in Digital Currency

Dara Albright Discusses IPOs, Innovation and Next Steps in Digital Currency



joining us today is an expert and frequent speaker in the FinTech digital crypto space Dara Albright is founder of Dara Albright media focused on crown financing and an advisor at Eisner ampere one of the largest accounting and consulting firms in the u.s. Dara it is so great to have you here thank you so much for having me it's great to be here absolutely and I saw amber it is really ramping up the innovation light in this sector it is so they recently launched a new center of transformation which is a really exciting initiative and it's really dedicated to you know really being on remaining on the forefront of all of this emerging disruptive technologies and enabling that their clients helping that clients capitalize on all these emerging exciting disruptive technologies such as blockchain and they have a significant financial services practice so it really fits in especially with this space a lot to jump in here and Dara and I have been friends for a long time going back to the JOBS Act in fact free Jobs Act we helped establish the crowdfunding professional Association together and and I think I gave one of my first talks at your event congressman McHenry and spike its original titles in the JOBS Act so for us that have been around that space this is kind of a bit of the long tail of the JOBS Act and I how do we look at continued innovation how do we foster job creation economic prosperity and use these new technologies to facilitate that so tell me what you're thinking I know we've always had this conversation on secondary liquidity kind of sort of challenges about public markets what are you thinking today yeah well first I want to say yes I'm going back to those days I mean you were always such an inspiration and yes speaking at that very first event which was the first crowdfunding conference in the country back at that time feeling it or no no I I know and that wasn't so long ago but yeah I mean think when we really started this we were looking at really the changing regulatory landscape coupled with what was happening you know with technological achievement and so you know those two things together reg tech plus spin tech and as those two things intersect was really transforming you know everything we know about the capital markets you know giving birth to new asset classes creating new currencies digital assets and I just think everything from what we started doing back then is it sort of just been a you know this logical natural progression leading us to exactly where we are here today and I think there was a lot that we looked at back then where we were really trying to you know look at these capital markets especially these small small cap equity markets you know and why they were broken and what we could do to fix them and you know Jobs Act was I think one step in on from a regulatory side in helping that but I think now what we're seeing is really taking it all to the next level even with all this new regulations that are coming out now across the entire planet focusing on digital currencies we're in a really interesting time in history so what do you think we had this hypothesis early days of private securities unregistered markets growing certainly the JOBS Act accelerated that we see valuation expansion of private enterprises today that are very much akin to public valuations that we want that I know you have thoughts on recent IPOs how that all connects or disconnects could you share some thoughts on that right so I think when we when we first started this you know back back when the JOBS Act was passed Facebook had actually just gone public did its IPO it you know a billion dollar evaluation it's kind of a dismal IPO you remember back in the day I mean they made a comeback but you know really what happened was all the growth was not in the hands of the you know the basically retirees you know or even the people that are saving for retirement savers or the general public at large and that was always you know a problem you know company like Intel in public back in the day and in 1971 they you know raised you know eight million dollars or something on its IPO at a 50-something million dollar valuation people that bought IPO Intel's IPO on the IPO day they and held it they would have realized you know a hundred thousand plus percent return you know something crazy native company is perfect timing uber goes public you know just last week again you know all of the the opportunities for appreciation happen when the company was still private so that's really a problem and we have to get back to a place where our markets are functioning again where we are able to bring the people's capital give them the ability to fund the innovation of the day and then we're going to see you know a more innovation and we're going to see more wealth you know that that's really more democratized and I think that's you know and I think that's really where I think this whole blockchain digital currency digital asset virtual country world comes into play I think that we're gonna see the tokenization of everything and I think that you know I think for really for the first time that is going to bring back the excitement and the let's call it the demands and let's call it the distribution back into the markets because people have just the general public has no interest in after they've lost interest in equities you know when a company goes public at you know hundreds billion dollars in market capitalization and the growth is really behind there's a lot less interest for them to go out there and buy but look at all the interest there's a lot of money on the retail side that's been clamoring just like they did those days of pre pre Facebook IPO days a lot of that retail capital is is making a shift over to the cryptocurrency world especially if you look at Millennials I mean they're all for them second nature they're all they all know about Bitcoin and theory and many of these other currencies so it's gonna be really interesting once we see that you know people I think have a tendency to conflate liquidity with demand and you know just because something is liquid they have the ability to be liquid doesn't mean that the demand is gonna be there and I think with what we're seeing this kind of this next iteration in in digital assets we're actually seeing the demand there for something that we haven't seen in a long while probably not since really the dot-com boom in the 90s so it could be a really healthy conduit democratization capital again pathways to liquidity all seems to be good for our economy good for wealth creation wealth creation job creation the democratization of wealth I think you know I think this is I mean I'm the always the ever optimist but I think that this is the best time in probably the history of the world to be alive wow I'm gonna put you on the spot before you go you know we're almost at the halfway point of the year and as you said we are living in interest and we're very bullish about the future anything we should look for in the next six months as far as for technological technology the FinTech space tokenization and digital assets wherever you found a thought I think we're really gonna start to see what we're gonna start to see that really become more and more mainstream I think you know now it's you know it's sort of making a comeback I think people are the excitement is coming back again in the space I think that you know we're gonna see ultimately we're gonna they're going to wait to see the SCC qualify a reggae plus token offering I you know I I don't know how far away it is but we are at some point gonna see and I think that's a game changer for a for actually for the new issue market I think that will transform the IPO landscape going back to the job site exactly exactly if I could toss one more out there isin Hamner right we hear lots of the some of the major law firms getting engaged the bulge bracket organizations the banks so I think it's a really interesting signal to see the world of accounting being engaged here at this level so you're seeing a move towards standardization on better understanding digitization tokenization as an asset class and how that's accounted for how its reconciled I I do I think you know I think you're starting to see really the mainstream even more conservative firms really now starting to and even institutions you know they're starting to look at the space now would say okay change is coming and we just want to really be out there on the forefront of it we want to understand it and you know we want to capitalize and we want to help our clients capitalize on it so yeah it's me you know I'm so excited to be working with Eisner ampere because you know they're they're really you know taking a you know an approach with building the center of transformation and you know really dedicated to helping their client to understanding and helping their clients capitalize on it so I think it's really exciting to be working especially with them which has so many you know clients that are from let's call it you know the the traditional world so it's really great to start seeing kind of the traditional world and this modern digital world really start to collide thanks for coming today thank you so much for having me this is great

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