As an investor I am familiar with often-cited data that shows how small and mid cap stocks have traditionally outperformed large cap stocks over time. I wonder

As an investor I am familiar with often-cited data that shows how small and mid cap stocks have traditionally outperformed large cap stocks over time. I wonder if this cherry picking of returns whereby the fastest growing small companies leapfrog the public capital markets completely and only go public once they've captured the majority of returns will impact this historical trend.