Fred Wilson, a managing partner at Union Square Ventures and author of the blog A VC, has a good post called "Lockups and Insider Selling" that is a good read. He begins the post by pointing out that the job of a venture capitalist to return capital to limited partners, and then says it again. He continues by discussing why VCs typically don't hold on to their stocks after a lockup expiration. Its a good post and worth a read. Here's the link: http://www.avc.com/a_vc/2012/08/lockups-and-insider-selling.html
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