Being a public company can be very challenging due to the differing interests of shareholders, according to Peter Singlehurst, a senior fund manager at Baillie Gifford. In an interview with the 20VC podcast, Singlehurst highlighted the difficulties faced by public companies, including the burdensome reporting requirements and the presence of shareholders with conflicting agendas. He suggested that businesses could enhance their operations by remaining private for an extended period. Singlehurst emphasized the importance of maintaining privacy to strengthen the business, noting that competing firms could gain insights and leverage over the company's strategies through public disclosures. Baillie Gifford's investments in private companies such as ByteDance, Epic Games, FlixBus, Stripe, and SpaceX reflect its strategy of supporting privately held enterprises. Singlehurst also mentioned that while staying private offers advantages, there are situations where going public may be beneficial, such as for liquidity, acquisitions, or regulatory compliance purposes. He highlighted the emergence of substantial secondary investment rounds as a new source of liquidity for investors in private firms. Although specific examples were not provided, he alluded to the challenges faced by companies like Tesla, whose stock has faced recent volatility.