There's a certain point where you do need some, you know, alignment or incentives. A lot of great founders that have been working their butts off, haven't done secondaries and are now looking at valuationswhere they have to work for the next three years. You don't want to have investors pumping a value then getting out. That's a critical component not just because they need the returns, but also as companies are staying private longer. It makes a ton of sense for early investors to be able to get liquidity for their funds.

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