Jeff Yan Says Much of a Company's Wealth Builds Before Its IPO

Hyperliquid founder Jeff Yan said Oct. 15 that much of a company’s wealth often forms before it enters public markets, including when it eventually goes public at a valuation of several trillion dollars. Access to those earlier investment opportunities is limited to a small group, he said, reflecting limitations in the existing financial system.

Yan called for lowering barriers so more people can participate in financial opportunities. He said stronger financial education can help people assess whether an opportunity fits their risk tolerance.

His comments build on an earlier argument that broader participation in private markets could support global price discovery.