[Swizec]

Okay, that makes sense then. I can see how 25 years can be the expected lifespan of a public company.

However, of those 48 companies that disappeared. Aren't those essentially liquidity events resulting in a lot of money for the shareholders?

[davidw]

> However, of those 48 companies that disappeared. Aren't those essentially liquidity events resulting in a lot of money for the shareholders?

Some were probably good, others bad for the shareholders.