[JumpCrisscross]

> The company. Worse for the investors

It's worse for the new investors. (If it crashes.) It's great for the old investors. They got an opportunity to sell if they wanted. If they didn't, they still own their shares, except in a company that has that IPO cash sitting in its account.

[SecretDreams]

Yes, correct. Although, even for some company folks, if it crashes, they get burned since they typically have blackouts post IPO.

Of course, some special souls are excluded from blackouts lol.

[JumpCrisscross]

> if it crashes, they get burned since they typically have blackouts post IPO

In the alternate timeline they would have held shares in a private company. They're still not really getting burned other than getting a tax bill.