When Spotify decided to go public in April, it sold its IPO shares to regular people as a direct listing, rather than the traditional method of selling to a pre-chosen group of its bankers’ friends. That decision was seen as a one-off; now, Airbnb and Slack are considering doing the same as they plan to go public in 2019. (Recode)

Talking point: Though the direct listing is far from becoming a regular trend, that major players like Airbnb and Slack are considering it indicates a shift in Silicon Valley’s relationship with Wall Street. Having Airbnb, last valued at over US$30 billion, list directly would show that tech startups don’t need bankers as much as bankers think. Similarly, Slack is also considering a direct listing. Enterprise startups—those who sell products directly to other companies instead of to consumers—usually benefit most from a traditional IPO, as people are more likely to buy stocks they recognize. But Slack is unique because it has amassed a cult-like following of eight million daily active users, making it recognizable enough to potentially drum up considerable interest.