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E29: Coinbase goes public, direct listings vs. IPOs, portfolio management, unions & more with Bestie Guestie Brad Gerstner
All-In with Chamath, Jason, Sacks & Friedberg
Is There a Benefit to Lock Ups?
In general, i think if a direct lissthing happens when you get distributed the stock, you should probably sell it right away. I do think that direct less things are administratively clean in some ways, but company building may not necessarily win. Lock ups are one of the most insidious things, i think, about the traditional ipo process. It's fairer and anda quicker price discovery when you actually allowed the supply and demand to exist in balance.
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