Re (1), the big story of late is the growing size of private equity funds and companies' ability to raise ever-growing amounts of money without going public. Di

Re (1), the big story of late is the growing size of private equity funds and companies' ability to raise ever-growing amounts of money without going public. Digital Sky Technologies (DST) did some early investments in facebook that arguably started the trend; Uber just raised two billion+ dollar rounds of funding without an IPO. This was completely unheard-of 20 years ago. [1] Re (2) I don't think you're right, I think it's that there's a cap on the number of shareholders until disclosure becomes mandatory. Can you give a citation for your view? [1] https://gigaom.com/2012/05/08/why-facebook-and-silicon-valley-owe-it-all-to-moscow/ https://gigaom.com/2012/05/08/why-facebook-and-silicon-valle...