GOLDMAN’S IPO THINKING: In an exclusive, the bank’s president talks me through the psychology of a mega-listing. He doesn’t speak to SpaceX or OpenAI directly, though it’s widely known they have a key role (and for Anthropic as well, and many of the bank’s clients already have ample exposure to all three private firms). Here’s how he’s thinking about the fundraisers this year — including the elevated retail allocations. Full episode for The Bridge: