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companies want to stay private for longer and so um you know you have to find creative ways to be part of these companies in the private markets versus them just going public uh another is the founders want as much cap table control as possible um and so unfortunately these factors don't fit perfectly together right they're at odds and hence why you get dynamics such as what's unfolded between between angel and angelus
our industry is more power law pilled more power law obsessed than ever before and so there's just a small handful of companies that um you know uh gps and lps want to be a part of um i've heard from some lps it's a hit list of 10 companies i've heard from others it's 20 i've heard from some it's actually just six um but when you have that obsession over a small handful of companies um the the sort of downstream effect is that uh you know people are are tripping over themselves to invest in thos