1. IPO data has a lot of errors. When combining data sets make sure that the errors do not compound because it will make a mess!
2. Defense companies do not have much fixed cost. It is all variable and part of the pension is paid by the government! wow! Not too enthusiastic in supporting defense companies although they are necessary.
3. BLS is quite independent from the executive branch. I sort of the head that feeling but it is nice to know that it is run by career bureaucrats.
4. Many IPOs are acquired quite soon.
5. India's GDP is 80% consumed by Indians so as long as India grows (which it is), expect to see lot of billion dollar companies :D
*From Penguin Watch
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