There are signs all over San Francisco of employees itching for their start-ups to go public. Quite literally in some cases: weary commuters gather beneath train station billboards promoting secondary markets that buy shares in private start-ups so they do not have to wait for initial public offerings. At the Caltrain station, where trains leave for Silicon Valley, a huge red banner ad for one marketplace, Equidate, hangs from the ceiling: “The Biggest Start-Up secret is you can sell your shares pre-IPO”.
员工盼望自己所在的初创公司上市的迹象，在旧金山随处可见。这类迹象在某些场合十分明显：疲惫不堪的上班族聚集在火车站的广告牌下，广告牌上推销的是可以购买私有初创公司股票的二级市场，使员工们不必等到公司首次公开发行(IPO)后再脱手股票。在通勤列车开往硅谷的加州列车(Caltrain)车站，天花板上悬挂着一个巨大的红色横幅广告，上面宣传的是其中一个交易市场Equidate：“初创公司最大的秘密就是你可以在IPO之前卖掉你的股票。”
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