The market for initial public offerings is broken, and that's harming America's innovation economy, writes Mona DeFrawi, CEO of Equidity. A focus on short-term, high-frequency trading is skewing companies' valuations, making it harder for new firms to achieve sustainable growth. "Without a core of growing companies ... the economy will simply keep generating more uncertainty and distrust, further limiting good, young companies' ability to hire and grow," DeFrawi argues.

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