The spectacular undoing of Firmus – and what went wrong

Today, senior reporter Jonathan Shapiro and tech editor Paul Smith take us inside the spectacular undoing of Firmus: what went wrong, how it unravelled in a week, and what this sudden collapse reveals about the AI boom. This podcast is sponsored by Ripple (https://ripple.com/) Further reading: How Firmus’ $44b IPO failure unfolded (https://www.afr.com/companies/financi...) Firmus was on a runaway train to become one of the country’s most valuable listed companies. This is the day-by-day account of how that hope evaporated. The pain that killed Firmus’ float is spreading. Here’s a new victim (https://www.afr.com/chanticleer/first...) AirTrunk’s decision to delay its Singaporean property IPO is another sign that the rising cost of capital is starting to foster doubts in the global artificial intelligence trade. AirTrunk postpones $4.4b Singapore listing as interest rates soar (https://www.afr.com/technology/airtru...) AirTrunk, has delayed plans to list a real estate investment trust in Singapore due to global market volatility, including rising interest rates. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.