Hi, I’m Azeem Azhar. I convene Exponential View to help us understand how our societies and political economy will change under the force of rapidly accelerating technologies. My book Exponential tackles these themes at length. Throughout November, Kindle users in the UK can get their digital copy for 99p.
DEPARTMENT OF THE DECACORN
Off to the races
It has been a record year for startups valued at $10bn and above. There are double the number of startups at this vaulted level than in 2020. This year won’t hold its record for long. Via Crunchbase
The year of the SPAC
Driving this incredible level of valuations is a significant appetite for IPOs, especially with regards to SPAC IPOs, as this chart from the Journal highlights. Via WSJ
Good news for Europe
We put this chart in the Sunday newsletter, but it’s so important we are using it again. We are seeing more than double the funding for European start-up funding this year compared with last. This year was the first time more money went to VC in Europe than agricultural subsidies, which is a big deal if you know anything about the scale of farm handouts in the European Union. Via Yoram Wijngaarde
Good news for the UK
In the UK, median deal sizes are going vertical, with most funding going into megadeals of more than £50m. Via WSGR
The pendulum is swinging towards the entrepreneur
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