A few trends I am seeing are: 1. Initial Exchange Offerings (IEO) are specifically excluding US participants, and sometimes Canada and China based participants

A few trends I am seeing are: 1. Initial Exchange Offerings (IEO) are specifically excluding US participants, and sometimes Canada and China based participants. 2. The US regulations are inadequate for legitimate smaller companies that want to bootstrap, requiring time-consuming legal applications to the SEC that may not get final approval - not a trend really, but more of a reinforced reality. It makes more sense for an entrepreneur to bootstrap a company outside the US and avoid any US touchpoints, if you want to bypass the mechanics of VC capitalization, SEC friction and address a market need that will not result in a unicorn. Cheers