[zlwaterfield]

There’s a bigger picture than just the consumer. If there is not a chance to exit then founders won’t be incentivized to create these companies and employees won’t be incentivized to join or stay at these companies. If M&A markets are limited then the only option is IPO which goes through major cycles and probably can’t support the number of companies needed. Plus many companies can’t get big enough to IPO.

[mrkurt]

Is this true? I assume there must be founders who won't start companies if they can't get acquired, but I'm not one of them. And I think my closest friends aren't either.