>>If you start making private markets open to everyone, then there's no reason to differentiate between public and private markets anymore. Couple this with 40

>>If you start making private markets open to everyone, then there's no reason to differentiate between public and private markets anymore. Couple this with 401Ks now giving retail investors (likely high-fee) choices to invest in private equity[1], and the picture looks much more volatile as the next generation draws closer to retirement. [1] https://www.latimes.com/business/story/2020-06-19/private-equity-401k-plans https://www.latimes.com/business/story/2020-06-19/private-eq...