Coatue's Philippe Laffont says the IPO market is broken beyond repair
1. Philippe Laffont criticizes the deteriorating U.S. IPO market. 2. He claims the IPO ecosystem is 'beyond repair' and unfair to retail investors. 3. This year saw 191 IPOs, a 48% increase, yet still below 2018-2021 levels. 4. Higher interest rates and regulatory scrutiny are impacting IPO market activity. 5. Optimism exists as some believe IPO momentum may improve despite current challenges.