The Exchange

When the dam breaks, IPOs are going to be wild

No one expects every startup worth $1 billion to be ready to go public, but the collection of billion-dollar startups that are ready to list is larger than you might think.

Is the future of the microchip industry going to be Made in America?

With all eyes on Taiwan and worries mounting around semiconductor supply, the U.S. CHIPS Act is timely. But it is not unique: Other countries also aspire to reduce their reliance on imported chips.

The best cloud unicorns aren’t as overvalued as you might think

Unexited unicorns represent one of the largest pools of paper wealth in the world. And the best companies -- often also the most valuable -- are actually not as overvalued as you might think.

Parsing Coinbase’s regulatory risk

While Coinbase is clear that it believes it is not in material danger due to the regulatory scrutiny, as a public company, it has to talk about what could go wrong. Let's discuss.

Not to jinx it, but SaaS valuations appear to be staging a recovery

We can infer from the data that not only are SaaS multiples recovering, but double-digit revenue multiples are back, baby!

Tracking venture capital data to pinpoint the next US startup hot spots

Taking a look at an M25 dataset ranking Midwest U.S. cities across datapoints including startup activity, venture activity and business climate.

Losses at SoftBank’s Vision Funds have consumed nearly all their historical gains

The Vision Fund was always a funded vision; today we learned just how cloudy that perspective is proving.

Who you gonna call? Good question

Many Big Tech companies are notoriously hard to get a hold of when running into any sort of problem. Yet, consumer-facing startups excel at customer support with far fewer resources.

Squaring Databricks’ 2021 valuation as it crosses a $1B annual run rate

With $1 billion or more worth of annualized revenue, what can we learn about Databricks' growth rate, and how well does its valuation slot into current market pricing?

Startups have to pay back all that equity compensation someday

All that stock that is paid out in worker comp to preserve cash is really just an IOU to investors that the shares will get bought back eventually.

Will a weaker euro lead to greater US investment in European startups?

A strong dollar makes deals in Europe potentially cheaper for American investors and could make selling abroad more attractive to euro-denominated startups.

Is Discord really worth 32% less today than it was last year?

Fidelity recently cut its valuation for its Discord shares. Is that reduction fair?

What will it take to reignite the NFT market?

It seemed doubtful that the period of hype that gave us endless Bored Ape derivatives would last forever. But what's next?

Stocks with friends

Several startups want to make it easier and friendlier for individuals to buy stocks. But isn't pandemic-era stock picking just a bad habit that'd better be left behind?

What do Big Tech earnings tell us about the health of consumer demand?

How are consumers doing? Today we’re taking a look inside Big Tech results to try to answer that particular question, which relates directly to startups hoping to serve the same consumer demands.

The advertising slowdown is dinging Big Tech

Perhaps the real deciding line between Big Tech and the rest of the technology industry is the point at which advertising incomes become a material part of their revenues.

You can now get startup shares on the cheap

Which is more reflective of the market today: H1 2022 numbers compared to their year-ago comps or the high-impact repricings seen by Instacart, Klarna and others?

Latin America’s slowing VC market hides local strength

To really understand what’s going on with Latin American venture capital funding, we have to go deeper than the regional perspective can afford us.

Is the advertising market in trouble?

Are we seeing the ad market truly tumble? And if so, what should we expect to shake out from the decline?

Cash is nice — as an option

Cashless transactions are on the rise, but cash payments are still a reality for American cannabis dispensaries and emerging countries – and they come at a cost. Are we ready for the end of cash?
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