Wouldn't that be the best time to go public? Before valuations drop?

Usually you don't want to sell your stock to the public after it's crashed.

Sure, we call it pump and dump. Awesome for insiders but terrible for investors. I'm talking from an investor perspective. By going public today it might only benefit a few early birds such as founders, angels, founding team, etc. If the market crashes it's terrible for new investors, anyone who bought the IPO. If you IPO after a storm your stock can only go up from the bottom.

That's not what pump and dump means.

Isn't that the best time to IPO? "Sell high..."

From an employee perspective, sure. Pump and dump is what you'd be looking for. But technically speaking you want your stock to go up as a company. Isn't it the whole point?

So you sold all of your positions and will be re-buying after the hit?

doubt it