> Going public now isn’t fair to other founders<p>How is this relevant, like <i>at all</i>?<p>> and isn’t fair to those who would buy the stock on the IPO.<p>You can declare something overvalued or undervalued relative to a specific price, but I do not know how giving someone an <i>option to buy</i> via an IPO or otherwise can be "unfair". You can choose to stay out. Why is it not <i>fair</i>? It seems to portray an IPO as something you one-sidedly decide to do and somehow you magically get money, and there is no choice on the other side of the market to buy or not buy.<p>[I stopped reading right there.]