No matter where you are, retail investors ultimately can't escape the fate of 'washing the dishes.' More and more high-quality companies like SpaceX and OpenAI are choosing to stay private for the long term, delaying their IPOs. The wealth created during their high-growth phases is mostly captured by VC firms, while retail investors can only join in at the IPO stage. — The ones eating the last wave, of course, have to be responsible for 'washing the dishes.'