Group 1 - Venture capital and private equity are dominating the growth phases of companies, leaving retail investors with limited opportunities [6][4] - The number of publicly listed companies has decreased significantly, with less than 4,000 currently listed, down nearly 20% from a decade ago [3] - The IPO market is struggling as venture capital and private equity firms prefer to keep companies private for longer periods [4][6] Group 2 - The equity markets are not reflecting the full diversity of the economy, leading to less transparency and increased risk for ordinary investors [5] - Notable private companies like Stripe and Databricks are valued at $91 billion and $100 billion respectively, highlighting the opportunity deficit for retail investors [6] - Recent gains in the S&P 500 have been heavily influenced by a small number of companies, particularly the "Magnificent Seven" and the "three a(I)migos" (Nvidia, Microsoft, and Apple), which together account for over 20% of the index's market value [8]
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