The SpaceXAI IPO produced more exit value than the previous five years of venture exits combined 2022 raised: $222 billion 2025 raised: $75 billion 2026 YTD exits: $2.18 trillion Full piece from a16z's @jkhamehl on why venture outcomes are changing the math for allocators: https://www.a16z.news/p/catching-the-venture-bus(a16z)