Although listed companies can effectively allocate capital in the economy with audited financial data and operating information, private companies are increasingly attracting investors' attention. According to Bank of America analysts in a research report, since 2000, the number of US listed companies has been cut in half to more than 4,000, while the number of companies supported by private equity venture capital has increased 25 times. “Companies are also moving or remaining private. Today, the average time for startups to remain private after establishment is 16 years, 33% longer than ten years ago before going public.”

Although listed companies can effectively allocate capital in the economy with audited financial data and operating information, private companies are increasingly attracting investors' attention. According to Bank of America analysts in a research report, since 2000, the number of US listed companies has been cut in half to more than 4,000, while the number of companies supported by private equity venture capital has increased 25 times. “Companies are also moving or remaining private. Today, the average time for startups to remain private after establishment is 16 years, 33% longer than ten years ago before going public.”