Also never been a better time to re-energise your business by taking a look at what doesn't work (move on from it) and what does (double and triple down). No doubt that category defining companies will also be renewed in 2024.
Pre seed Investor @ Remagine Ventures | Interactive Entertainment, generative AI, next-gen consumer Tech
2023 Global Venture Review - Plummeting deal volume (US down 40%, UK %50, Israel 60%) - The industry's largest investors significantly slowed - Valuations are down, especially at the growth stage - VC funds struggled to raise new money (and sold parts of their holdings at steep discounts) - M&A and exits were at the lowest level of the past decade in 2023 However, several reports agree: - Generative AI is potentially seen as a game changer, expected to unlock an additional $10.3 trillion in economic value (Accenture) - Funding for GenAI startups shot up nearly 5x in 2023 compared to 2022 - The Fed is expected to cut interest rates this year, potentially thawing capital into startups, and opening up the IPO window (which will give funds/LPs liquidity) - It may sound like a cliche, but there has never been a better time to launch a startup. New tech means founders can do more with less, mass layoffs mean talent has become available, lessons learned from the crash means management teams are focus on responsible growth and unit economics Category defining companies will get started in 2024.
