Is that why you are seeing the big private equity players come in, and seeing some of these companies, like Kaseya, look to a private offering?
There’s hundreds of billions of dollars -- that’s not an exaggeration -- that has been raised by private equity firms to invest in software and internet technology facing companies. That provides the capital to do almost anything. You can do just about anything.
Where the public markets come into play, the public markets provide the opportunity for companies to have a currency that they can use for employee incentives. Right now, employees of Kaseya have stock in Kaseya. In order for that stock to become cash, there needs to be some sort of liquidity event. That’s why you are seeing the public markets. Fifteen years ago, before private equity was as funded as it is, companies would go public for access to capital to do things. The access to capital is there now. You don’t need the public to do that. It’s really providing a liquid currency as compensation for employees, that’s one of the reasons you are seeing such a push to go public.
