Everybody talks about the advantages of immediate cashflow, while always ignoring these outcomes.

What did going public allow the company to do that it was unable to do prior to selling out? Did they just need the money to keep paying for bandwidth? Because that's the essence of the 1990s dot com game, with private venture capital being replaced by wall street investment firms.

Unreasonable demands for 'projected growth' is what always kills companies who otherwise, would be maintaining just fine.