There are certainly downsides to it, but you’ll notice that most of the biggest companies of the last 20 years had a dual class stock structure that gives the f

There are certainly downsides to it, but you’ll notice that most of the biggest companies of the last 20 years had a dual class stock structure that gives the founders a high level of control. The most efficient government is a benevolent dictatorship, the problem, of course is that benevolent dictators don’t live forever and sooner or later you get a non-benevolent one. These sorts of dual class share structures avoid that issue by generally becoming common stock on transfer so it turns into a democracy with the end of the dictator. With an IPO you at least got to spend several years seeing how the dictator did.