There’s something of a disconnect happening between what’s known as the private market — what companies are worth before they go public — and what those companies are worth once they have their initial public offering.

Examples A and B today are the meal kit delivery service Blue Apron and Spap of Snapchat fame. The companies’ stocks haven’t been the sure bets a lot of investors had been hoping.

Maureen Farrell shared the byline in the Wall Street Journal story today about this valuation disconnect, and she spoke with Kai Ryssdal.

Click the audio player above to hear the full story.