Douglas Rushkoff wrote decently well about this topic -- his argument was that Twitter was a company that never should have gone public and which would have been much more interesting had it been more decentralized and privately controlled. Maybe not as interesting financially -- but interesting in the sense of control and technological vision. Public markets can do all sorts of strange things to a company -- I think as IPOs start to wane in frequency, a lot of startups are going to take a long hard look at public markets and some might decide to take a hard pass on them, despite the gold pot at the end of the rainbow.