The US makes up almost 50% of global market cap. Yet over the past three decades, the number of American public companies has declined dramatically.
So says this week’s guest, NYSE Chief Development Officer Chris Taylor, who joins us for our new “3 Pressing Questions” segment.
After years of a quieter IPO market, there are signs momentum is returning — with a surge in new equity offerings and investors watching the debuts of big names like SpaceX, OpenAI and Anthropic.
We headed to the New York Stock Exchange to unpack:
🌍 What’s really driving global stock markets right now?
🔔 What’s next for the US IPO market as attention turns to companies like SpaceX, OpenAI and Anthropic?
🤖 Are we in an AI bubble?Plus: Chris shares what founders should know if they dream of ringing the bell on Wall Street one day.
We dive into:
00:00: Introduction
03:59: What's actually driving stock markets right now — and where consensus might be wrong
06:29: CEO outlook on global volatility, AI and challenges
08:01: Where some companies are spotting new market opportunities
08:57: Are we in an AI bubble?
10:31: IPO market outlook
12:14: Expected 'mega-IPOs' this year with SpaceX, OpenAI and Anthropic
14:22: NYSE roadmap
15:40: SEC proposal to give companies option to report earnings semi-annually vs. quarterly
17:26: The hardest part of running the exchange
19:46: Jump in overseas demand for US stocks
21:12: How NYSE competes against other exchanges - both in the US and overseas
26:33: Common mistakes companies make before going public
27:58: Future of going public: Will the traditional IPO model remain king?
28:48: Rapid-fire round
NOTE: This interview was recorded ahead of SpaceX's IPO on June 12, 2026. Views and opinions expressed in this episode are for informational purposes only and do not constitute financial, investment or other professional advice.
🚀 Season 2 of Behind the Business is here, featuring the leaders of brands including Airbnb, Rivian, NYSE, Canva, Samsung, Poppi, Peloton, Revolve, Lucid Motors, PHLUR, The Points Guy and Away. Catch new episodes every Thursday.
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🎙️About Behind the Business
Behind the Business is a Webby Award-winning, thoughtfully produced video podcast grounded in the belief that business is in fact personal. This is not a fawning interview show. We pair deep research with thorough interviews — asking the real questions and avoiding fluff, while keeping it fun! What’s the toughest day you’ve ever had at work? How do you mentally prep for a big event? Or what’s a pinch-me moment you’ll never forget? In each episode, guests get into it all. Each episode also connects guests with young founders/ CEOs who send in a question. New episodes every Thursday.
About Michelle Toh
Michelle is an award-winning international journalist, most recently a longtime reporter at CNN. She's covered top stories in global business, including the chip and trade wars, world-leading IPOs, the corporate response to Russia's invasion of Ukraine, Europe's energy crisis and China's property problems. Previously, she was with FORTUNE. She has reported for The New York Times, TIME and South China Morning Post.
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