The discussion around Microsoft's IPO in 1986 highlights the significant differences between early tech companies and their growth trajectories compared to modern firms. Key points include Microsoft's rapid valuation increase post-IPO, corroborated by historical comparisons with Amazon, Google, and Facebook. The monopolistic position Microsoft gained in office software, partly fueled by offering free software with new PCs, reshaped the market, although opinions vary on the narrative around this dominance. Additionally, the trend of companies delaying IPOs in the recent Zero Interest Rate Policy (ZIRP) environment contrasts with how Microsoft's IPO was indicative of its established profitability and market position at the time.