[lowboy]

I think bolder88 has a problem with the idea that an IPO creates intrinsic wealth, or somehow increases the overall "wealth" of the entire system (either global or within a given country).

Yup, and now the word "wealth" is just a random series of letters when I read it.

[SideburnsOfDoom]

As far as I can work out, the IPO does not "create intrinsic wealth", the value is generated by having a successful startup, and this value is then recognised by the market at the IPO - If there was no success in the company already, there would be no wealth at the IPO. But this could be a semantic difference between "creates" and "recognised".