I think the ASX is still a high-cost IPO option and a marketplace that doesn’t yet understand tech startups. I’m hopeful that the market will learn more about the opportunities for long-term investment in listed Aussie tech stocks but we’re not there yet.

One of the missing pieces of the puzzle you didn’t touch on are secondary markets, which in the US provide a useful mechanism for early employees in mid/late stage tech startups to sell some of their stake in order to buy a home, start a family or reward a family for the lean years, and hopefully become an LP in a tech VC fund or begin some angel investing. That mechanism turns over a lot of smart capital in a shorter period of time and has a significant role to play in growing the Silicon Valley ecosystem.

I’m Alan Jones, an EiR for startup accelerators, GP at M8 Ventures. Previously investor, founder, and early Yahoo PM. Opinions mine (but should also be yours).

I’m Alan Jones, an EiR for startup accelerators, GP at M8 Ventures. Previously investor, founder, and early Yahoo PM. Opinions mine (but should also be yours).

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