"Increasingly, odds are stacked against individual investors, as private-equity outfits get a bigger share of a younger company's growth," Barron's reports:

• What's new: "[A] growing pile of private capital is available to young companies, forestalling their need to sell shares to the public."
• "Growth stocks still exist, but the average publicly traded company is older, larger and slower growing compared with 30 years ago — and particularly with those available now to private-capital investors, whether venture capital or buyout funds."
• Why it matters: "[P]ublic investors can't tap the full breadth of opportunities historically available. ... [T]he ground floor is closing to the public. ... 'In this smaller universe of options, investors are missing out on companies earlier in their life cycle.'"