Slashdot Mirror
VC Market Is on Pace for Strongest Year Since Dot-Com Era (bloomberg.com)
Venture capitalists are spending cash at levels not seen since the dot-com era, and theyâ(TM)re raising money at a pace to match. From a report: Last quarter, VCs spent $27.3 billion in the U.S., according to a report set for publication Tuesday by research firm PitchBook and the National Venture Capital Association, a trade group. That's the most in any second quarter since the group began tracking quarterly data more than a decade ago. Combined with a record-setting first quarter, the VC market had its strongest first-half-year performance since 2000. The $57.5 billion invested in startups so far this year has already surpassed the full-year total for six of the past 10 years. This year is on track to exceed the $81.9 billion invested last year, which was itself a record since the dot-com boom.
Nah, you could read the article and realize its largely from Japan's Softbank.
"That doesn’t include a stockpile raised by SoftBank Group Corp. The Japanese conglomerate, which is looking to spend $100 billion in the technology business, is a driving force behind the VC fundraising frenzy."
And you could then Google Softbank and see what they're buying. Which seems to be solar and green tech and blockchain and bitcoin exchange tech.
Basically, they/he are trying to divest from oil because they know that it will run out one day
Actually, this is the opposite of what they worry about. They are discovering new oil fields, and new ways to keep old wells productive, far faster than reserves are being depleted. Their real concern is falling prices and a long term worldwide glut caused by over production.