Your 401k is going to be fine, nobody goes public anymore until they're a big, dumb, boring, profitable company and all of the risk+returns have been rung out.

Too many normies betting their life savings without understanding this risk in prior bubbles, so we regulated away the ability for non-institutional investors to take venture risk at all.

> we regulated away the ability for non-institutional investors to take venture risk at all.

Some institutions try to achieve this by launching their own cryptocurrencies, but by and large, the market isn't biting.