The IPO process is unfair to companies because bankers pick both the price and the shareholders, where an anonymous auction would do the job.

I think it is insanely unfair to the companies the way they're forced to go through this process where the bankers pick the price and pick the shareholders. There's just no need to do that. If you took a freshman computer science student and a freshman finance student and said, you know, imagine how a company should go public. They would match supply and demand anonymously like you would in any auction.