Fred Wilson and the team at USV believe that the biggest difference between public and private markets is the amount of information that a company discloses. Fred says, "One of the many reasons companies don’t want to go public is they don’t want to have to deal with a valuation that moves around all the time." With the latest markdown of Fidelity's private investment portfolio startups are realizing that depending on your investors you might give up some of the advantages of being a private company.