> Do IPOs/liquidity events/exits/etc all happen when the right price has been determined; ie when we can see what size the company will be, and it is no longer

> Do IPOs/liquidity events/exits/etc all happen when the right price has been determined; ie when we can see what size the company will be, and it is no longer useful to capitalize it further? When all growth paths have been explored. Is that time the inflexion point? To answer this question, you need to ask the question: what reason is the company going public? For example, in the dot com boom, companies went public with a business plan (almost). They were clearly looking for funding to expand on their business and were nowhere near the inflection point. In contrast, with WeWork, SoftBank was pretty clearly looking to unload radioactive garbage on the public. So the answer is: it depends.