I think the deal has changed quite a bit in terms of how long it takes to figure that out. It used to be that a company's fate was pretty clear within a few ye

I think the deal has changed quite a bit in terms of how long it takes to figure that out. It used to be that a company's fate was pretty clear within a few years. You joined a startup and it either IPOed in a few years or you guessed your stock was worthless (and that was usually right). Today some of these "pre-IPO" companies are being kept alive on private capital life support for a decade-plus. Palantir is finally going public after 17 years. 17! Waiting a generation for a liquidity event is ridiculous.