The Globe and Mail reports in its Saturday edition that the decades-long trend of private capital playing an increasingly prominent role is robbing average Canadians of the opportunity to participate in their own homegrown success stories. The Globe's Jameson Berkow writes that historically, private and public markets have enjoyed a symbiotic relationship. Private investors would grow an early-stage company to the point where that company could go public, providing those investors with an exit while allowing the company to keep growing. But that relationship is breaking down. In the first three months of 2024, none of the 15 exit deals that occurred during the quarter involved an initial public offering. Roughly half involved private investors buying public companies. And because most of the private investors that end up buying those mature companies are based outside of Canada, the national economy is also robbed of the economic boost it would have received from those companies staying Canadian-owned. A glance at the Toronto Stock Exchange seems hopeful, since the total number of listings has been growing, but that growth has come almost exclusively from investment products such as exchange-traded funds.