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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.
A lot of this money has been coming from China: people who are afraid of their own country and don't want to invest money there.
"First they came for the slanderers and i said nothing."
Indeed. The VC market (and capital markets in general) is on pace for the biggest (probably bigger) crash-and-burn since 2000. But I have faith that the current administration will handle it with their usual deft, competent aplomb.
So they are sinking money into companies that fuck up american welfare (Über), in order to improve their welfare? Damn, that's actually smart.
Avantgarde Hebrew science fiction
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.
Always be wary of investors who's fortunes are not tied to your own.
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.
If no unicode means no emojis then I'm ok with Slashdot not supporting it.
I agree a crash is coming, but I'm not so sure about the burn. Why would governments and central banks refuse to continue propping up junk assets with quantitative easing money all of a sudden? The predicted downside of QE - high inflation - never materialized, so as far as they are concerned there are no election cycle down sides to the money printing policy.
The real problem is that bankers have so successfully conflated paper wealth and real wealth, that the real economy is dying a slow death from poor resource allocation without anyone noticing.
My prediction is that the next phase of this madness will be talented young people ceasing to engage in the formal economy in larger and larger numbers. The whole 'deal' of student loan debt, unaffordable housing and constant career reinvention looks far too obviously like a trap now. As the generations ahead keep piling up on the job scrap heap, many young people will conclude it is a waste of their time.
Western countries, which can no longer even build enough basic housing for their populations, are in long term decline. It's just the same old story - greed, incompetence, selfishness. I don't think we will head to another war or revolution, but I think that poverty like we haven't seen in the west for almost 70 years is going to make a massive comeback, and people will just shrug their shoulders and say there is nothing that can be done.