Report documents systemic market failures that cost U.S. households jobs, investment returns, and innovation
CHICAGO, Sept. 19, 2025 /PRNewswire/ — Dream Exchange CEO and Founder, Joe Cecala will host a webinar on Dream Exchange’s new report, Breaking the Cycle of Structural Oppression in Capital Markets. The webinar will take place on October 2nd, 2025 at 1:00 PM Central. The session will highlight inefficiencies that restrict qualified entrepreneurs from raising growth capital and limit opportunities for investors to share in innovation.
Drawing on data from various government sources such as the Federal Reserve, Securities and Exchange Commission, Consumer Financial Protection Bureau and others, the webinar will show that barriers to participation are not only unbalanced, but also economically inefficient for small to mid-cap companies:
- Declining Public Markets: The number of listed U.S. companies has fallen by nearly 40% since the 1990s, reducing opportunities for everyday investors. Companies under $100 million now account for less than 10% of Initial Public Offerings, down from 40% historically.
- Geographic Concentration: Three metropolitan areas — San Francisco Bay Area, New York, and Boston — capture around 75% of venture capital, leaving most regions underserved.
- Demographic Disparities: People of color and other minority groups received only a small percentage of venture capital funding. The report shows that, for example, Black founders receive about 0.4% of venture funding; The report also show that credit denial rates are higher among minority and those “mid- to small cap” participants – citing, for example, that Black-owned firms face credit denial rates near 40%, which is about double that of white-owned firms.
- Information Gaps: More than 2,000 public companies lack analyst coverage, leaving investors flying blind and starving businesses of visibility.
Register for the webinar for free at this link: https://event.webinarjam.com/register/280/94yr4f3p
“This analysis reinforces why alternative market structures are essential for American competitiveness,” said Joe Cecala, CEO and Founder of Dream Exchange. “When barriers cause the exclusion of qualified businesses, the investors lose returns, the companies cannot grow, and the communities lose jobs and innovation.”
As former SEC Chair Jay Clayton warned in remarks cited by the report: “The decline in listings leaves households with narrower choices and fewer opportunities to participate in growth.”
About Dream Exchange
Dream Exchange has filed its Form 1 Application with the Securities and Exchange Commission. Upon approval, it will become the first minority-controlled licensed stock exchange in U.S. history. Dream Exchange is also advocating for a new type of exchange called a “venture exchange,” through the passage of the Main Street Growth Act. A venture exchange is designed for smaller, early-stage companies traditionally excluded from public markets.
Media Contact:
Robert Todd
PR Manager, Dream Exchange
773-914-1182
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SOURCE Dream Exchange
