I don’t think the “just want their short term returns” applies in many or most cases. I think the influential, large (as in meaningful voting power) tend to take longer term positions. I suspect it comes down more to what the various groups are trying to maximize. Founders and original insiders are probably maximizing a blend of pecuniary and non-pecuniary returns while the post IPO investors tent to be more exclusively focused on the pecuniary returns. But as that pecuniary focused group grows the founder find they have to make more and more compromises to retain control and pursue their initial vision.
But I think you’re right that after IPO the nature of the decision-making and the focus of what to pursue and maximize is going to shift and so relative priority regarding safety likely to shift—exactly how much and in which direction I don’t know but I would not be surprised if it moves in a way you seem concerned about.
I don’t think the “just want their short term returns” applies in many or most cases. I think the influential, large (as in meaningful voting power) tend to take longer term positions. I suspect it comes down more to what the various groups are trying to maximize. Founders and original insiders are probably maximizing a blend of pecuniary and non-pecuniary returns while the post IPO investors tent to be more exclusively focused on the pecuniary returns. But as that pecuniary focused group grows the founder find they have to make more and more compromises to retain control and pursue their initial vision.
But I think you’re right that after IPO the nature of the decision-making and the focus of what to pursue and maximize is going to shift and so relative priority regarding safety likely to shift—exactly how much and in which direction I don’t know but I would not be surprised if it moves in a way you seem concerned about.