True. Also has to do with huge increase in private equity r…

True. Also has to do with huge increase in private equity rounds going bigger deeper and longer.

Some of it makes sense. Much of it result of perverse incentives via regs.

https://twetch.app/t/2012d1ce7f22e377b73a060014e95efdd59a58390aa49a3e22dd040654e77472