The case explores the attempt of Shervin Pishevar, a prominent Silicon Valley investor, to shepherd hyperloop, a futuristic pod-in-tube transportation technology, from concept to transformative reality via Hyperloop One and Sherpa Capital, both companies he co-founded. The case outlines the technology-first brought to widespread attention by Tesla and SpaceX executive Elon Musk-then follows Pishevar as he builds a team, develops prototypes, recruits investors and partners, and navigates the many obstacles in pursuit of this "moonshot." Students are presented wih historical parallels and precedents that may illuminate certain aspects of the challenge.

In November 2015, Square, Inc. launched its initial public offering (IPO). The IPO had an offering price of $9 per share, lower than the $11 to $13 estimate that had been outlined in the preliminary prospectus and 42% below the $15.50 share price in its most recent financing less than a year before. The lower than anticipated pricing of Square's IPO, and the implied valuation, had left investors and market observers wondering if this was an indication of a valuation bubble, or a shift in the market. The case provides an overview of the IPO process, and examines U.S. IPO trends from the 1980s to mid-2010s. It explores the rationales behind an increasing number of $billion + private valuations, known as 'unicorns', and explores who the winners and losers are when such firms go public at lower valuations.

By August 2015, two-year-old mobile imaging software startup Lightricks had developed and released two best-selling paid mobile apps, grown to a team of 30, earned a revenue run rate of nearly $10 million, and achieved modest profitability. The bootstrapped company had explored raising funds, met with venture capital firms, and was presented with a term sheet. The co-founders believed the financing would allow them to scale up quicker, but they also worried about losing control of their company.

"Discover Capital" provides an in-depth look at a first time search fund run by the tenacious Kelly Quann Bianucci. It provides background information about search funds and follows Kelly as she successfully raises her over-subscribed fund and begins the search process. The following useful information is included for students who are considering starting a search fund: offering memoranda, fundraising techniques, staffing, screening techniques, marketing materials and processes, letters of intent, and deal evaluation criteria. The case also looks at the potential fund returns from the perspective of an investor.