Going public is not magic

Just came across this http://www.jacksonfish.com/blog/2008/02/04/and-this-is-why-going-public-is-a-non-goal/ and was reminded of a class I took this summer on corporations.  I had a good realization in that class that really public markets afford a specialization or division of labor that focuses on capital allocation and leaves management to someone else.  If you don’t need that specialization of capital allocation from someone else, and you don’t want to be beholden to that, you really shouldn’t be going public.  There’s lots of excitement around IPOs and public companies, so a lot of people assume that’s the only route to go.
It’s also not clear trading publicly in the market is so great anymore.  There is so much regulation, that now we’re seeing lots of private acquisitions.

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