https://techcrunch.com/2019/05/15/what-uber-and-lyfts-investment-bankers-got-right/

Startup CEOs heading to the public markets have a love/hate relationship with their investment bankers. On one hand, they are helpful in introducing a company to a wide range of asset managers who will hopefully hold their company’s stock for the long term, reducing price volatility and by extension, employee churn.

On the other hand, they are flagrantly expensive, costing millions of dollars in underwriting fees and related expenses.