I am currently seeing that Founders Fund's fourth growth fund has raised close to $60 billion. That means the partners are showing a lot of confidence in it. The interesting thing is that $15 billion is coming from the partners themselves, with the rest from external investors. It means their own people are trusting first. After the third fund's $46 billion, this move came quite rapidly. This confidence from the partners indicates that investing in late-stage companies is still a hot game. Do you also think there is long-term value in such funds?

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