Valuations are getting pretty hot right now. You can't be a sead investor in premodcre product, market fit companies and expect to have a good returning fund if you're paying over ten 20 million dollars at the entry point. It's not even clear if you cald make it work at 30, forty million. People get emotional about valuations because they think their company is worth what people will pay for your shares. And we see it in private lives of humans who buy stocks on an emotional level. Why would any human want to start early with governance? I don't know why anyone would do that.