By rough approximation, it's at least $1M per year in purely excess G&A costs to meet public company regulatory requirements. And then there's the constant man

By rough approximation, it's at least $1M per year in purely excess G&A costs to meet public company regulatory requirements. And then there's the constant management distraction of quarterly earnings song & dances, disclosing key strategic matters that might be better left private, governance requirements, increased surface area for lawsuits, wallstreet manipulations, etc. Being private can make the companies much more nimble -- especially if they actually have rigor & profits rather than requiring perpetual shareholder subsidization of "growth." TLDR: Being public (even absent Sarbanes Oxley) isn't a panacea.