The culture may have changed, but the way I meant was first, with small IPOs is that the founders may expect exponential growth post-IPO, and that gets cut shor

The culture may have changed, but the way I meant was first, with small IPOs is that the founders may expect exponential growth post-IPO, and that gets cut short, and second, it’s much easier to hostile takeover small companies. Whether it’s Amazon or Dunkin Donuts. Instead the company’s older, founders are more tired, the payout’s higher, and (I assume) being more expensive, they’re less common. I would guess companies now keep voting power among insiders after IPO with special share classes instead of incorporating in odd states, if they’re inclined to avoid a takeover. When it comes to the modern day version of this sort of drama, the first thing that comes to mind is pre-exit startup founders losing control. That’s still a thing.