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ESOP.
For the non-public firms, where is the equity going to come from? Is it going to require a buy-in as it does at P+?
I'm not opposed to it at all, as I've worked for small firms that have some sort of equity ownership at all levels, but for a B4 that's a trickier proposition.
ESOPs aren’t that hard to setup, publicly traded or otherwise. If the company is generating growth and value then there is room to siphon off equity in a reinforcing cycle without the zero-sum worries.
Because you have to be invited into the partnership. They don’t just let anyone in you know