No, IB fees are definitely a factor in this decision. I believe the WSJ mentioned that was part of the decision process. Also, the Google result is really har

No, IB fees are definitely a factor in this decision. I believe the WSJ mentioned that was part of the decision process. Also, the Google result is really hard to draw any conclusions from. It's one data point vs. many underwritten deals of which some have done better. some have done worse. The the main point is I do not see any reason, at least in principle, that the current model could be vastly improved.