So what happened to the Dutch Auction idea? Seems that tech is more powerful / autonomous in some ways than Wall St. now and could eliminate this risk? Why su

So what happened to the Dutch Auction idea? Seems that tech is more powerful / autonomous in some ways than Wall St. now and could eliminate this risk? Why subject themselves to this process -- what are they gaining? https://money.howstuffworks.com/ipo7.htm https://money.howstuffworks.com/ipo7.htm Instead of letting the underwriter dish out shares to favored institutions, Google held a Dutch auction in which everyone who wanted a share put in a bid. The lowest successful bid became the price that everyone got their shares at, even if they bid a higher amount. This method guarantees that the initial offering price is set to sell all of the shares at a price that conservatively reflects market demand.