Gurley warns SEC's well-intentioned response to fewer IPOs—institutionalizing private company investing—will fail massively.
“But what they wanna do to fix it is then some kinda institutionalized investing in private companies, which I think will fail massively.”
Gurley says SEC's well-intentioned response to fewer IPOs risks institutionalizing private investing for average investors.
“I personally don't think it's healthy because a minute that happens and everyone realizes that there's less companies going public and companies staying private longer, then the SEC, I think in a well intentioned way goes, oh my god. The average investor's missing out on this asset class.”