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do you care about how these companies go public like do you care about spack versus direct listing versus IPO i don't
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i only care about the quality of the underlying asset and what I think it can be worth 5 years from now now obviously
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I do care about the liquidity that I'm getting in the IPO Chimoth am I getting a million or 100 million or a billion as
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the float right that's number one and obviously I also do care about the percentage that is floating and I do
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care about the lockup those three elements are really important in terms of a company going public and how we
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think about participating give the listeners the guidance there so for the first thing bigger is better than
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smaller correct so it's number one can I even buy it if the IPO is so small and we can't get a large enough position it
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doesn't really make sense for us so that would be point number one point number two is how much of the company is
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publicly floating bigger is better there as well correct you kind of get a truer
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price when a higher percentage of the company floats it's also most likely going to be less volatile and less
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susceptible to predatory pricing and manipulation and things like that chath you may know this i think LinkedIn went
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out at like 10% or something i remember it being really small yeah and a lot of us thinking like wow that is a small
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percentage which ended up being very volatile i think 20% is in my opinion kind of a minimum so number two the
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float and then number three the lockup first is there one in a direct listing there may not be one you may get in that
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scenario to a truer price faster