# Why Nasdaq’s Rachel Racz is all in on Texas

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Podcast: [The Beat: Austin's tech and startup podcast](https://stenobird.com/podcast/the-beat-austin-tech-startup-podcast)
Published: 2025-08-27T08:00:00+00:00
Episode link: https://www.buzzsprout.com/2461715/episodes/17737923-why-nasdaq-s-rachel-racz-is-all-in-on-texas.mp3
Audio file: https://www.buzzsprout.com/2461715/episodes/17737923-why-nasdaq-s-rachel-racz-is-all-in-on-texas.mp3
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Duration seconds: 961

## Resource

Nasdaq's Head of Listings, Rachel Racz, explains why the exchange is doubling down on the Texas ecosystem. The discussion covers the diverse pipeline of Texas-based companies ranging from fintech to energy and the essential steps for startups preparing for an IPO.

## Highlights
- Main idea: Nasdaq maintains a regional focus by placing dedicated teams in high-growth hubs like Texas to serve local clients
- Practical takeaway: For founders eyeing an IPO, prioritizing revenue growth, predictable execution, and strong corporate governance is critical
- Market insight: The Texas pipeline is uniquely diverse, spanning fintech, healthcare, consumer brands, and energy infrastructure
- Competitive strategy: Nasdaq competes with other exchanges by providing integrated technology, market data, and global investor connectivity
- Failure mode: Founders should avoid focusing on the IPO process too early, instead prioritizing the fundamental building of the business and investor trust

## Topics

Nasdaq, IPO, Texas Tech, Venture Capital, Fintech, Startup Growth, Austin Business, Capital Markets

## Chapters
- 1:00 — Recent Major Funding Rounds: An overview of significant recent capital injections in the Austin tech scene, including Anaconda and Overhaul.
- 5:35 — Nasdaq's Commitment to Texas: Rachel Racz discusses Nasdaq's long-term presence in Texas and their strategy for supporting regional growth.
- 8:00 — The Nasdaq Ecosystem: A look at Nasdaq's role beyond the exchange, including market data, surveillance technology, and banking software.
- 9:00 — Diverse Industry Pipelines: Exploring the variety of sectors in the Texas pipeline, from fintech to the energy companies powering data centers.
- 11:15 — Preparing for an IPO: Advice for early-stage founders on the transition from private to public, focusing on governance and revenue.
- 14:45 — The AI Arms Race: A brief reflection on the societal and security implications of the rapid development of artificial intelligence.

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## Transcript

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