Venture capitalists and private equity firms are killing the IPO. When they make large investments in fast-growing growing companies at more than $1 billion valuations, they’re effectively doing what the IPO market once did. And in so doing, they’re harvesting explosive growth that used to accrue to public market investors.
A thought-provoking read. I’m not sure I agree entirely; this isn’t just about companies staying private starving you and I of the benefits of wealth creation - public markets are a different beast: demanding and often short-termist, they can be at loggerheads with a tech company’s aims.