|The problem isn't only IPOs. There are a lot of other problems and they're all trending in the same direction. |
The average time a company is in the S&P 500 is 14-years, down from decades a few decades ago. This means that CEOs and investors have a very short window to make money before a company falls off the S&P.
There are also far fewer retail investors with most estimates putting the number around 10%. Machines have taken over most of the market and control everything. Without investors demanding better CEOs etc. bad CEOs keep their jobs far too long and quickly cause companies to collapse.