"I would do distributions immediately, book the win and move on" @chamath is 100% right about the prudent decision for GPs at IPO. Hanging on destroys relationships with LPs unnecessarily.
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Yea it's true - but a win is a win! I think I have always sold too early in tech.
I used to say the same, until I missed out on 90% of $FB’s growth from selling after the IPO.
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Relative to your original post, perhaps a good middle ground is for GPs to distribute shares and also to transparently share whether they are selling or holding.
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This makes the most sense to me. Distribute shares and lay out, I'm selling x% bc it's now 90% of my net worth but see tremendous upside. Also I'm a private market investor, not a public one.
End of conversation
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