'It would be a lot harder to raise the initial capital if the initial investors wouldn't have the prospect of unloading their shares to the public." It wouldn'

'It would be a lot harder to raise the initial capital if the initial investors wouldn't have the prospect of unloading their shares to the public." It wouldn't, because there isn't anything else they can do with the capital other than sit on it in a bank and get no return. The myth that the stock market is relevant is put about by people who work in stock markets. Much like share buy-backs are the same as dividend payments. Exactly how giving the company's money to people who want to stop investing in the company is the same as giving it to those that do is a triumph of using dodgy maths and statistics to fool people.