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Open original source ↗As public markets got over regulated - private markets stepped up. Now a quasi-public, late-stage market exists with massive liquidity & financing rounds that look like private IPOs. OpenAI, SpaceX, Databricks, etc. Grt for late stage firms - bad for retail investors. 🎯📈
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$JPM CEO Jamie Dimon last week: "We've gone from—I'm going back like 20 years now—8,000 public companies to 4,000. We are driving companies out of the public markets because of litigation, regulation, reporting requirements, cookie-cutter expectations of how we want boards to be, excess regulations, shareholder meetings which are frivolous"
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