Ann: Quarterly Activities Report and Appendix 4C, page-168

This is neither here nor there. BL's job is to bring new companies to market, profit, and move on. If he has a 20 bagger, he puts at risk going for an additional 20 bagger. It's akin to arguing that if this company ever provides a regular income and the initial speculative investors sell to more risk-averse investors - that the business is doomed and the new investors are mugs because the species investors ate selling. Everyone has their own investment strategies and risk-reward thresholds and the current status of BL's holdings is inconsequential. Maybe BL foresaw the current teething problems and believed it over-priced (which has been proven correct). That was then, this is now.