> they’ll adopt some of these proposals that are in the benefit of these companies IPOing at the expense of large funds?

Yes. And I see the argument for it. It’s hard to claim you represent the market if trillions of dollars are outside it for no reason other than newness or capital-structure weirdness. (I agree with excluding unprofitable companies.)

There's quite a bit of money in, say, the cannabis business; do they have any representation in indices of note?