system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why is it such a big deal for companies to go public, when there seems to be plenty that stay private and are incredibly successful, wealthy and influential?
gpt
Going public means that members of the public can buy stock in your company. That means you can raise money for minimal effort, which is obviously good for a business. It can get you through a rough patch where money is tight, or let you raise money to expand and build a new factory, etc. If you remain private, you have to come up with the money yourself, which isn't always possible.

The drawback to going public is that you don't have as much control over your company. The shareholders get a say, and you have to share you profits with them. This may or may not be worth it, depending on your company's specific situation.