As many have stated, the main difference between a private and public companies, is that public companies have stocks that are traded publicly and there are many stakeholders in the company. Another difference is that in private companies, the shareholders are usually involved in the management of the company. Private companies are generally invested into with the longer-term in mind. For example VCs will enter with a three to five-year plan before exiting. This means management can work toward a five-year plan, theoretically with more reward, and less immediate pressure. Whereas with a public company public is trying to meet short-term goals. Also public companies have detailed financials which are readily available for potential investors to see vs a public company that may have less-detailed information which could make it harder for potential investors to evaluate. An example of a successful private company is Medline with $9.2 B in revenue. A successful public company is Amgen with $23B in revenue.