For me the state of 'liquidity' events is a biproduct of our unsustainable consumption culture. Until people start 'thinking differently' about the type of people, and the type of world they want to be/create, we will continue to see liquidity events of this type.
IMO it became obvious after 2000 that the company cycle ( birth, growth, plataeu, decline, death ) for internet companies is much faster than the regulatory/financial cycle. For traditional 'technology' companies it still makes sense. You could see a hardware company do the whole cycle. But I don't think it works for internet companies. And it fundamentally destroys them, a la Yahoo and now Google.
IMO it became obvious after 2000 that the company cycle ( birth, growth, plataeu, decline, death ) for internet companies is much faster than the regulatory/financial cycle. For traditional 'technology' companies it still makes sense. You could see a hardware company do the whole cycle. But I don't think it works for internet companies. And it fundamentally destroys them, a la Yahoo and now Google.