[Thread] As post-IPO prices of some unicorns decline, "guaranteed" returns for late stage private investors, unable to sell shares for months, prove illusory (Gavin Baker/@gavinsbaker)

Gavin Baker / @gavinsbaker:
[Thread] As post-IPO prices of some unicorns decline, “guaranteed” returns for late stage private investors, unable to sell shares for months, prove illusory  —  1) Investor fear and the absence - temporary or permanent - of the Vision Fund likely creates more attractive late stage opportunities vs. the last 5 years. Market is semi-frozen, deals are breaking, converts are taking a long time and there are good companies that need funding. https://twitter.com/...

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