Insights · Post-bubble

How big is the business after the rent gets repriced?

This page compares IPO market cap, current market cap, and an illustrative residual cap equal to current value minus the site's directional freed-capital estimate. It is a thought experiment with receipts, not a liquidation oracle.

Companies with IPO baseline

9

5 published company currently lacks an IPO comparison point.

Current cap in sample

$20.6T

Only companies with an IPO baseline are included in this view.

Illustrative residual cap

$18T

Current cap minus the portion the model sees as most vulnerable to open pressure.

Average IPO return

7,320.3x

Average IPO CAGR 31.4%.

Log-scale comparison

Then, now, and after the unwind

The chart uses a log scale so tiny IPO-era caps do not collapse into decorative dust beside today's trillion-dollar values.

On mobile, the main story is presented as ranked cards first so you do not have to pan across the full comparison chart to understand the page.

NVIDIA

NVDA

5.2% challenged

IPO cap

$332,444,856

Current cap

$4.3T

Residual cap

$4.1T

At risk

$222.5B

IPO x

12,934.5x

IPO CAGR

41.7%

Apple

AAPL

6.3% challenged

IPO cap

$1.2B

Current cap

$3.7T

Residual cap

$3.5T

At risk

$234.3B

IPO x

3,102.1x

IPO CAGR

19.4%

Microsoft

MSFT

15.9% challenged

IPO cap

$519,017,373

Current cap

$3.3T

Residual cap

$2.8T

At risk

$523.2B

IPO x

6,358.2x

IPO CAGR

24.5%

Alphabet

GOOGL

18.5% challenged

IPO cap

$23.1B

Current cap

$2.4T

Residual cap

$2T

At risk

$444.3B

IPO x

104.1x

IPO CAGR

24.0%

Amazon

AMZN

13.7% challenged

IPO cap

$429,456,636

Current cap

$2.2T

Residual cap

$1.9T

At risk

$301.3B

IPO x

5,122.8x

IPO CAGR

34.5%

Meta Platforms

META

24.8% challenged

IPO cap

$81.2B

Current cap

$1.8T

Residual cap

$1.4T

At risk

$446B

IPO x

22.2x

IPO CAGR

25.1%

Broadcom

AVGO

10.7% challenged

IPO cap

$3.5B

Current cap

$1.1T

Residual cap

$982.2B

At risk

$117.8B

IPO x

310.9x

IPO CAGR

41.3%

Tesla

TSLA

19.0% challenged

IPO cap

$1.6B

Current cap

$1T

Residual cap

$810B

At risk

$190B

IPO x

631.8x

IPO CAGR

50.8%

Walmart

WMT

12.1% challenged

IPO cap

$21,450,000

Current cap

$800B

Residual cap

$703B

At risk

$97B

IPO x

37,296.0x

IPO CAGR

20.9%

Capital split

How much looks durable versus challengeable?

A second view sizes each bar by the company's current market cap, then splits the bar into residual value and the share the model believes could be repriced if substitutes compound.

Illustrative residual cap
Freed-capital potential

NVIDIA

Residual $4.1T · At risk $222.5B

Current market cap $4.3T

Apple

Residual $3.5T · At risk $234.3B

Current market cap $3.7T

Microsoft

Residual $2.8T · At risk $523.2B

Current market cap $3.3T

Alphabet

Residual $2T · At risk $444.3B

Current market cap $2.4T

Amazon

Residual $1.9T · At risk $301.3B

Current market cap $2.2T

Meta Platforms

Residual $1.4T · At risk $446B

Current market cap $1.8T

Broadcom

Residual $982.2B · At risk $117.8B

Current market cap $1.1T

Tesla

Residual $810B · At risk $190B

Current market cap $1T

Walmart

Residual $703B · At risk $97B

Current market cap $800B

Current exclusions

These published companies have current market-cap and freed-capital data, but they do not yet have a usable IPO baseline in the published corpus, so they are excluded from the comparison charts instead of being faked into neatness.

Applied MaterialsBank of AmericaBerkshire HathawayCaterpillarCoca-Cola

Free The World

Built as a research surface for tracking how AI, open source, Bitcoin rails, and distributed manufacturing steadily make legacy pricing models look like an elaborate historical accident.

Early-2026 public-source snapshot

Open source on GitHub

Commit 19f0c8c ·