THE SHRINKING PUBLIC MARKETS, AND RISE OF PRIVATE LIQUIDITY LOOPS

Summary from the TLDR Founders newsletter

Half of U.S. public companies have vanished in 30 years because staying private got way easier. Companies can now raise billions without IPOing and investors can still cash out through private deals. The wild part is that companies are getting bought and sold between private investors like trading cards, creating "fake liquidity" where you think you're getting your money out but you're really just owning the same company through a different fund.