In this podcast episode, TJ van Gerven discusses the considerations and trade-offs of accepting a tender offer, which is a solicitation to purchase equity in a private company. He explains that the most common reasons for accepting a tender offer are diversification purposes or personal financial reasons, but there are potential downsides to keep in mind. The speaker advises holding onto equity until post-IPO when shares are publicly traded and the market does a good job of pricing in future growth expectations. He also emphasizes the importance of reviewing tax planning opportunities and consulting with a tax and/or financial professional before making any decisions.