100% agreed. There's so much locked up appetite for IPOs, both from the tech crowd and the general public. There have been very few quality IPOs since COVID frankly.

I'll wager that the IPO market can actually absorb all three of these that yes, are the size of the last 10 years combined. The trading market itself is larger, as are values, and valuations.

I assume that to maximize value you see a standard lock and roll play here. The S-1 will declare the 10% release, with commentary about future (6 or 12 months) another 5%. Plus don't forget institutional. There's ample space here, even before the Nasdaq 100 changes that are probably coming into play. If those come into play then inflows accelerated, as did valuations.