That shouldn't stop exchanges concerned about their reputations and corporate governance standards from leaning against the fashion — perhaps by limiting dual classes to the first five years of public ownership, or
capping nonvoting stock at, say, 25 percent of all shares.
By all means, exchanges should give fledgling companies the time they need to mature — by limiting dual classes to the first five years of public ownership, say, or
capping the percentage of
nonvoting stock.