Chapter 1 sets the scene, highlighting the rise of US dual-class stock success stories in recent years, before contrasting it with the rules of the FCA, which prohibit dual-class stock from the London Stock Exchange’s most prestigious listing segment, the premium tier.Regulators fear that dual-class stock incentivises controllers to extract personal benefits to the detriment of shareholder value.However, there has been a significant decline of UK IPOs in recent years, with a severe dearth of large tech company listings, with high-growth companies and unicorns seeking private finance options instead.The United Kingdom is subject to disproportionate levels of takeover activities, and thriving British businesses are regularly being purchased by foreign acquirors.Dual-class stock could, though, encourage and promote the listing of high-growth companies, enabling founders to divest of equity and generate further equity finance for growth, while insulating the management team, and its pursuit of the founder’s long-term, idiosyncratic vision, from removal by public shareholders and takeovers if short-term profits are low.Although the standard tier listing of The Hut Group was a success, it entailed certain compromises which emphasise the importance of the premium tier, and dual-class stock could be the shot-in-the-arm to resuscitate what has become a moribund IPO market.