[makestuff]

With so much money flowing into the massive funds, do you think more and more unicorn startups will just stay private? It seems like there are liquidity opportunities for employees/founders via tender offers, secondaries, etc.

If you are a profitable unicorn who can raise money in the private markets when needed, is there really a benefit to going public? Maybe I am missing something, but going public doesn't really seem to be as important as it used to be.