Companies IPO much later now because the laws changed. They used to be forced to IPO much earlier because employees shareholders pushed them over the threshold for # or private shareholders.

So you're absolutely correct about the comparison.

That said, I bet whatever happens over the next 20 years goes beyond what any of us can imagine. I wouldn't be surprised if the winners of this paradigm are worth hundreds of trillions. Sounds ridiculous until you look backwards and valuation a and consider this is an exponential curve and time is compressing.