Jamie Dimon’s (the veteran CEO and chairman of JP Morgan Chase) annual letter to shareholders was quite an interesting read. His take on shrinking public markets was no less intriguing - US public companies now total 4,300, down from 7,300 in 1996 (other countries are also experiencing the same).
In short, he pins the blame on the hostile environment that public markets are now subjected to. Specifically, he cites the intensified reporting requirements (including investors’ growing needs for environmental, social and governance.
