Over the past 30 years, the number of publicly traded companies in the U.S. has been sliced in half, falling from a peak of ~8,000 in the late '90s to just ~4,000 today.

That stat shocked me. I knew IPOs were a slow drip, but I didn’t realize that the number of companies being taken private was far out pacing the number joining the NYSE and NASDAQ ranks.

Today we discuss:

* Three structural changes in the capital markets that brought us to this point

* The rise of private credit

* How companies staying private changes your job as an operator or CFO

This week’s podcast is brought to you by Campfire (www.campfire.ai)

We’ve all used legacy ERPs. Painful migrations, endless consulting fees, and even after you’re live, getting simple answers still means hours in spreadsheets.

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I’m excited to see how they keep reimagining this space – and you should be too.

Check them out at www.campfire.ai.

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#12 - Don’t Say “I Love You”...Do THIS Instead