Not all capital is created equal. In the U.S., we’re watching more companies choose to stay private or even go private because the regulatory burden of public markets has become too heavy. Interestingly, while domestic firms step away, international companies are lining up to list here for the perceived security of U.S. exchanges. For founder-led enterprises, the real opportunity lies in understanding these alternatives, structuring wisely, and ensuring your team can still unlock liquidity without sacrificing control.