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Thibauld
@thibauld
The only liquidity worth unlocking is liquidity for the *small* investors. Professional investors are structured to withstand illiquidity. They're diversified. They know most of their investments won't perform and are fine as long as 1 outperforms. They're after "big liquidity events": IPO / sale of a company which takes many years with a probability in the single digits %. Small investors are different. They don't diversify. They don't run funds. Life events (large purchase, college tuition..) make them need liquidity on a timeline that is not aligned with the company they invested in. On top, they get their potential outcome eaten by the big guys in follow-up rounds. That's why private equity is such a hard asset class for small investors. We should provide founders with the tools to exit small investors easily, to clean their cap tables, make room for the bigger ones. If we can increase the exit probability for small investors, we'll change the asset class & the game. That's why @fairmint exists 🚀
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