Last month, my friend Nicolas Colin, a Director at The Family, described Europe’s tech IPOs as “boring” in a newsletter. Among other points, Colin argues the need for a deeper ecosystem that links Europe’s entrepreneurs with capital markets. Large IPOs are a big part of this. A debate over the veracity of Colin’s claim spilled into social media, which focused more so on what one considers “boring” than anything else. Word choice aside, I presume that by “boring” Colin meant “small.” On that, he has a point. In both a game of averages and outliers, many of Europe’s most valuable startups have in fact looked to American exchanges for public listings.