Busting the Myth That There’s Little Data on Private Companies

The Securities and Exchange Commission, Wall Street’s most important regulator, says there’s a huge risk in allowing big private companies to live in an information black box, and it is working to rectify that with new disclosure rules. But while the hidden risks the SEC wants to address are real, it’s a myth that there’s a dearth of data available on companies that live in the private markets, particularly later-stage startups and unicorns valued at more than $1 billion.