It’s unicorn season on Wall Street! Lyft kicked off its IPO roadshow on Monday, Levi Strauss returned to the public markets on Thursday (after a 34-year hiatus), and many others are waiting in the wings. Among the most anticipated: Uber, Airbnb, Slack, Pinterest, WeWork and others. Investor appetite, so far, is looking strong. Amateurs want in, if only for hype purposes (Who cares if Lyft lost a billion dollars last year?! So what if it may never turn a profit!), and while institutions tend to be more informed and thus more rational, they don’t want to miss out on the excitement, either.

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