alt Hacker NewsNot sure about your opening thesis. The vast majority of employees work for privately held businesses and from personal experience of working in such companies, “management” by OKRs and the like is common in companies who are not listed on stock markets also.
There'll inevitably be cargo culting driven by MBA curriculums and "they're making a lot of money, let's do what they did" without examining the specifics of the situation to distinguish luck from judgement.