One of the few compelling reasons to go public is to give employees with stock access to liquidity. As article notes, public companies pay in order to provide t

One of the few compelling reasons to go public is to give employees with stock access to liquidity. As article notes, public companies pay in order to provide this. It's a good thing to do for employees. It's a narrow, idiosyncratic view of "value" that views that as "value destroying". Also, how companies ought to financed, organized and managed if the purpose of a company is rewarding value creators as oppose to maximizing shareholder ROI generally is a discussion worth having, but how public companies (anyway a tiny fraction of all companies) use the stock market in practice doesn't necessarily tell us that that's what the purpose ought to be. One is an "is" and the other is an "ought" and anyway the connection between the two is pretty loose.