Increasing popularity of Direct Listings?

After the Spotify and Slack direct listings, there seems to be a lot more interest in this area.

Airbnb looks like it's going to be going the Direct Listing route next year and Gitlab and Asana seem to be following suit.

With increasing interest from private investors in startups, these companies can raise a large round before going public from private markets and then go with a direct listing and save on fees.

What do you guys think this means for the future of IB profitability?

Not really meaningful or is this an important shift?

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