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Executives Favor Privacy Over IPOs Amid SEC Changes

11/3/2025

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Summary

Story summary

Edwin Chen, founder of Surge AI, says many executives prefer remaining private to pursuing initial public offerings (IPOs).
U.S. public listings declined from 8,090 in 1996 to 4,010 last year.
Paul Atkins, chairman of the Securities and Exchange Commission, aims to revitalize IPOs by reducing regulatory burdens.
Critics argue these changes could discourage public listings and weaken investor rights.
The rise of unicorns—private firms valued over $1 billion—underscores this trend.

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Story summary

Edwin Chen, founder of Surge AI, says many executives prefer remaining private to pursuing initial public offerings (IPOs).
U.S. public listings declined from 8,090 in 1996 to 4,010 last year.
Paul Atkins, chairman of the Securities and Exchange Commission, aims to revitalize IPOs by reducing regulatory burdens.
Critics argue these changes could discourage public listings and weaken investor rights.
The rise of unicorns—private firms valued over $1 billion—underscores this trend.