How Anthropic’s equity confusion among investors could’ve been avoided—and why opacity is bad for the market
We would be in a world where public and private markets converge—where issuers can get funding readily in either, because a wider range of investors are there to provide it and trade out when they like. But there is one key difference between the two markets that remains: disclosure. Public markets will have it and private markets will not. Maybe that promotes investment and growth, or more likely, it encourages more companies to stay or go private so they can cut corners in reporting. That would be bad news for investors, markets and the whole economy.
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