When a company goes public, employees' paper wealth becomes real money they can actually sell. Plaid is used as an example of how this shift changes behavior, even though the company isn't expected to go public in the next year or two.
They do not expect Plaid to go public in the next one or two years.
Speaking more specifically about Plaid if they end up going public I don't think they're going to do it in the next one or two years but if they do do you think they'll just end up having the same issue once they go public? People who are still thinking and debating about leaving they're just going to leave and how much is that an actual threat to the company?
I think notional wealth and easily converted to liquid wealth I've observed most people behave differently. It's one thing when you're like oh based on the 409A or based on the last rounds price my ownership in this company is worth X and it's different when you're like oh I can log into computer share or I can log into whatever system we use and I can actually see shares available to sell and if I push that sell button money will show up in my account and maybe yeah it's subject to some restrictions I think.
