The big money in startups comes from investing before the IPO

Despite WeWork's woes, it seems private investing still holds a 'mystique'. "Promoters of private investing say the new IPO is the FPO—the final private offering. Even big mutual fund companies including BlackRock, Fidelity, T. Rowe Price, and Wellington have embraced private investments." Alistair Barr, Annie Massa, and Sarah McBride in Bloomberg Businessweek explain why investing before the IPO is still the strategy of the moment.