What future growth would there be for buyers if the company went public already at its peak?
I never said anything about peak. I said profit. Certainly a company making profit may want to go public to finance growth to make more profit (ie peak).
IPOs/stock companies were not created for companies that were unprofitable.
New growth would have to be sustainable "indefinitely" or they'd have to worry about replacing it. In addition, even more revenue growth is then required to maintain the higher market cap.
What makes you say that? Proof? It was historically used to raise more funding to fuel growth, a function VCs can now fill (ie, then it would be likely to have a VC provide the larger sums required). Though VCs can fill such a gap, IPOs give insiders an exit.
It’s your assertion show me proof IPOs are for “unprofitable companies”.