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But PG's argument is the Facebook IPO will put off investors investing in __startups__, this is the very definition of early investors, which for facebook has m
by markmm 14y ago
But PG's argument is the Facebook IPO will put off investors investing in __startups__, this is the very definition of early investors, which for facebook has made a few billionaires and many millionaires.
- veyron 14y agoYou have to work backwards. The penultimate round of investors depend on future investors to buy in at a higher valuation. The third to last group depend on the second to last group. And you can walk this all the way back to the seed stage. If there are few people left at the end to buy up the IPO then the late stage investors dry up and the ripple works its way back to the seed and angel rounds.