Question 13 In October 2019, a leading Silicon Valley venture capitalist argued that investment bankers often view initial public issues as a border wall under their exclusive control but have sensed that this barrier has been breached. Discuss the role of investment banks in a traditional Initial Public Offering (IPO) and the associated advantages and disadvantages of using investment banks for the firm going public. Discuss the merits and drawbacks of the alternative IPO method implied by the leading Silicon Valley venture capitalist as a way for private firms to obtain equity capital when going public without having to go through a traditional IPO process. (25 marks)