Despite the common expectation that rising prices would encourage more companies to enter the stock market, the supply of stocks is actually decreasing globally. Big companies like ByteDance, OpenAI, and SpaceX are staying private for longer due to several reasons like avoiding the pressure to meet quarterly earnings and the demand for environmental, social, and governance reporting. Staying private allows for more options in raising cash as private equity funds have significantly grown, exceeding 8.2 trillion U.S. dollars by the middle of last year.