Google’s IPO was a major event in the tech and business world two decades ago. The young founders, Larry Page and Sergey Brin, were already Silicon Valley veterans, and their company, with its “Don’t Be Evil” motto, had become a household name by taking over the Web search market from a host of failed sites and online portals.

Of course, there was a slight problem: monetizing search was more complicated than it looked, raising questions about whether an excellent tool for the digital multitudes could translate into a compelling stock, especially in the gloomy years right after the initial dotcom bubble burst. Revenue was coming in at barely $3 billion a year.

Adding to the intrigue was Google’s unique IPO, which utilized a Dutch auction to sidestep underpricing and ensure a fair process for all investors. Despite initial concerns and regulatory hurdles, the stock opened at $85 and closed the day at $100. And since then, the stock has skyrocketed over 6,500%. A $20,000 investment in 2004 would now be worth over $1,320,000.

Granted, 20 years is a long time. However, the S&P 500 has “only” quintupled, and even the high-flying Nasdaq has “only” delivered a 14X return since Google went public. There’s a strong moral here. A great idea will get monetized. It will turn into a great business. People who invest in that business and keep the faith will be rewarded.

Today, Google is a global powerhouse. It controls over 90% of the worldwide search market and generates $300 billion in revenue annually. However, the company faces significant challenges, including antitrust lawsuits and increasing competition from rivals like OpenAI. We think it will rise above them all like it always has.

Meanwhile, the companies that are poised to dominate the future, much like Google does the modern Internet, are constantly going public. Those we believe have a serious chance at achieving such glory are already part of our portfolios.

As new contenders emerge, we will promptly initiate coverage and bring them to your attention. Always remember, your investments are not in the past or present, but in the future, which we believe will be even more promising than we can currently envision.