I think this shift towards early liquidity is really good for 2 reasons: 1) Society benefits when people work on what they love and do best. Founders, with ra

I think this shift towards early liquidity is really good for 2 reasons: 1) Society benefits when people work on what they love and do best. Founders, with rare exception, are best at innovating and building new things -- not running large organizations. If we allow founders to exit early, they can work on their next idea, which maximizes the amount of time they spend doing what they love (innovating). This is a net good. 2) Liquidity in the form of early exits attracts more founders, which leads to more overall innovation. I think there's a social judgement against trying to "make a quick buck" which should be discounted. Real value was created whenever an acquisition takes place, and this value isn't destroyed when founders sell -- it just exchanges hands (and sometimes gets transformed).