Why the Stockmarket Is Disappearing

Reading this article was a bizarre experience, where the author has a completely opposite set of priors to you, and then you read the result one step removed with the priors unstated, resulting in whiplash where good things are actually apparently bad things.

> Companies including ByteDance, OpenAI, Stripe and SpaceX have valuations in the tens or even hundreds of billions of dollars, and remain private.

Sweet! Going public is step #1 for your company turning into an unethical monster motivated only by its own share price without any concern for its customers, its employees, or the society that allowed it to exist. Good for those companies for resisting the urge to turn their company into an all-consuming monster.

> Stocks also still tend to be the cornerstone of portfolios for less sophisticated retail investors.

Yes, unfortunately. We should be discouraging gambling, not encouraging it. A reduction in the importance of stock markets in personal finance is good news, I hope it continues.

> [T]hree economists, suggest that the disappearance of markets may reduce public support for business-friendly government policies, as voters benefit less from corporate profits.

Again, great news! Business-friendly government policies are worker- and environment-hostile policies. Businesses have way too much control over public policy.

But then,

> Jamie Dimon, JPMorgan’s boss, is among those to have voiced concern.

Concern about all this good news?? What??

> Might anything be done to revive stockmarkets?

Wait why are we reviving them? All these outcomes are great!

Weird article :)

>Large companies such as ByteDance, OpenAI and Stripe are staying private

Why is SpaceX and X staying private? It's fully public knowledge. It's the same reason.

Legislators went too far. Stay private and you avoid a huge amount of problems which are far worse then any upside of being public. Plus, you always have the option later to go public; after legislators fix their overstepping.