[rrss]

> It doesn't make any sense to sell part of your company to a random set of people, just to pay them back over time.

It's unfortunate that this doesn't make sense to you, because that it literally the original purpose of shares in a company.

Someone wants to finance a voyage to a far-off land to trade. To do so, they form a company and issue shares of the company. The profits off the voyage (if any) are then divided amongst the shareholders, in proportion to shares held. It was a pretty good idea.

(Debt is not the same as equity, not sure why you are talking about mortgages).