>>720103671
publicly held businesses have a buffer against things like rising labor costs, materials, etc, so if things go to shit they don't IMMEDIATELY die if things go south. Privately held means you are shouldering it entirely on your own. If shit goes tits up you are FUCKED. It's way way harder to make it work because on the other end of the market is someone who due to public capital, loans, etc, is able to acquire what you need for less because of bulk discounts, longstanding contracts, etc.

Sure they might get enshittified but they last longer on average and that's what matters to the market. They'll ditch after some point but the institutional investors who have the inside scoop will be out before the general public so they don't give a fuck. Look into how most P.E. firms work and you'll understand.