(Also - might your "allow ordinary people to participate" sympathies extend to people who would like to participate in your own financial affairs?)
some ordinary people who worked hard and made it happened: founders and early workers, usually rewarded very well
Selfish VC becoming filthy rich through an IPO is exactly my point. Up to an IPO a private company will only make their owners rich - in your example "selfish vulture capitalists".
After an IPO anyone can participate. When Google, Amazon, Apple went public, VCs got rich. Everyone after that included every day people like you and me.
After that - X's best assets are sold off (the VC's get the money), X goes deeply into debt (again, the VC's get the money), many of the employees are laid off, and X generally goes bankrupt within 7 years - because what is left of it can't make the payments on the debt.
Sounds like the selfish vulture capitalists are the insiders who sell the company.
>X's best assets are sold off (the VC's get the money), X goes deeply into debt (again, the VC's get the money), many of the employees are laid off, and X generally goes bankrupt within 7 years - because what is left of it can't make the payments on the debt.
This doesn't make any sense, because X is the original asset. If part of X is sold, then the remaining portion of X loses value (assuming the sold part is the good part). If X is used as collateral, then it also loses value.
They can also choose enshittification, but they are not pressured into it like companies with institutional investors are.
As a Hetzner customer, I would lose out if they went public.