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It would be fiscal malpractice to IPO right now if you have the cash to wait out market weakness. Practically no healthy companies are going to try until mid-2023 at least.

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There are exceptions of course: https://techcrunch.com/2022/09/29/tripactions-ipo

Didn't Visa IPO during the last recession? They seem to be doing pretty well...

Visa belongs to the class of businesses that are beyond healthy.

Not only that, but a business based on people using credit to buy consumer items, the need for which may increase when people's income decreases.

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