[21723]

Ninety-nine percent of private equity profits come from taking strategies that are illegal with regulated, public companies and applying them to unregulated assets. And venture capital is a subset of private equity. Almost every conversation VCs have amongst themselves would be considered market manipulation if it pertained to an exchange-traded company, and of course the fact that it's all insider trading goes without saying. So no one should be surprised.

[pc86]

This is one of those things that sounds right, and I'm inclined to believe, but I've never read any in-depth discussion of it so I'm hesitant as it's sort of confirming my own bias without a ton of concrete evidence.