Jason Lampkin

Basically the same revenue.

Now it's got debt.

It's got other issues.

But I'm like, my God, guys, we could work for three more years to an IPO, suffer lots of dilution in the IPO, stress, basically economically be the same place in three years.

Now that's cool if the three of us want to build something much bigger than this, right?

But I don't even know if 10 billion is worth it.

If we don't want to do it, if we don't want to build this as a generational company on our own for a decade, because the Navon comp's a tough one.

It sort of says to me, we're going to grind it out for two to three years and be worth the same.

So we better want it.

And all my public company CEOs, they're pretty grouchy today.

I would say 80% of the public companies, B2B CEOs, now they may be thrilled when the next generation IPOs, but this isn't the happiest cast of characters, is it?

The public company CEOs?

They're not happy today.

At least live in the dream world of private.

Let's do another secondary, boys.

Lads, let's do another secondary, lads.

At first, when I saw this deal, I thought, and Rory can play historian here, it harkened back to me to when Andreessen got off the ground doing Skype.

Yes.

And the reason it, it was a structurally weird deal where they got a good deal.

Now they took risks.