"..peoples and governments never have learned anything from history, or acted on principles deduced from history, or acted on principles deduced from it." Hegel
@DawsonJNielsen@PremierLacrosse@NLL Floating franchise sales as a liquidity mechanism for existing investors, alongside a fresh $100M raise, means earlier round backers may be looking for a way out rather than seeing dist. is consistent with a business that hasn't generated $ to return to anyone yet. Burning cash.
Private equity is having an exit problem:
~32,000 companies
- $3.8 trillion in unrealized value
- more than half held for 4+ years (a record)
Meanwhile the "solutions" are dividend loans, continuation vehicles, and secondaries (2025):
- $40B in dividend loans
~$100B in continuation vehicles
- $226B in total secondaries volume
@chipawmitch1@lax_truther and they probably don't get 5% of the BB venue attendance and thus the switch, then you have Cosmic Baseball selling out in MILB parks, crazy
It was always an awkward moment when someone needed the red bat.
โYeah, Billy, you can play but you gotta use the red bat.โ
โBut I wanna use the yellow bat like everybody else.โ
โMotherfucker, you went 0-for-46 yesterday. The yellow bat is no longer an option for you.โ