The median age at IPO for US companies is now over 10 years. Staying private has its advantages, but what are corresponding externalities when companies remain private for extended periods of time?
No fair using eschew in a headline. :-). Great post, if I have time I'll do one myself that builds on this because I grew up in a Silicon Valley where you could go public in 4-5 years and off $30M in revenue. And I think that was overall better for a number of reasons, mostly related to employee liquidity, ability to change jobs, ability of the individual investor to buy shares in companies early (e.g., Oracle at $100M in revenues) and even for institutions who could buy shares in early-growth companies without 2+20 fee loads.
No fair using eschew in a headline. :-). Great post, if I have time I'll do one myself that builds on this because I grew up in a Silicon Valley where you could go public in 4-5 years and off $30M in revenue. And I think that was overall better for a number of reasons, mostly related to employee liquidity, ability to change jobs, ability of the individual investor to buy shares in companies early (e.g., Oracle at $100M in revenues) and even for institutions who could buy shares in early-growth companies without 2+20 fee loads.
Wow yes please do! That was such a different time. Looking forward to your post!