[crucialfelix]

I would say that's just a careless joke.

The real issue is that for small caps, startups, tech, solar etc. stock markets are basically casinos. Any little murmur or rumor is an excuse to dump the price 20% in a day and then after everybody is scared shitless buy the thing back.

I used to day trade quite a bit and I can assure you that the majority of the people trading these companies don't know or care what the business is. These days many of them are robots.

So if you are trying to build a business then you want calmer long term hands to prevail, not traders.

[mikehawkins]

Yup. I can imagine also the ease of having to only deal with a limited pool of private funders - all of whom are known quantities vs. faceless public funds - would be also be a key benefit.