The headline was certainly provocative and misleading. Could interpret this as a bit of signaling risk with early investors cashing out at a discount, but I don't think that's fair. There isn't really precedent for a $4B+ non m&a or IPO liquidity event for private company shareholders. The liquidity discount that private equity investors use is typically 20-30%, so now that I think about it the 30% discount seems like a logical liquidity discount to anchor on