The Gift and The Curse of Staying Private with Bill Gurley

There's a really interesting post by Hester Peirce... this post called A Creative and Cooperative Balancing Act argues that maybe blockchain is the path to fix the IPO market, which is provocative.

when Deepseek hit and took off... Alibaba made Qwen open source. Xiaomi has a model out now... And Robin Li at Baidu had kept his model proprietary and he said in June it's going to be open source.

Yale has announced that they're in the market looking to sell $6 billion of private equity. The fact that Yale is the one doing it is super important