💾 Archived View for tozip.chickenkiller.com › 2023.gmi captured on 2023-03-20 at 17:56:54. Gemini links have been rewritten to link to archived content
-=-=-=-=-=-=-
Blog for 2023
one 2021 analysis found that not only were 90 percent of U.S. startups that were valued over $1 billion unprofitable, but that most would remain so.
The collapse of SVB (Silicon Valley Bank) is another landmark of what I call the Tech Reboot. The low interest environment fuelled speculation in risky enterprises. As interest rates rose it started a reversal of that trend. Let me illustrate. Two days ago GitLab shares lost 38% after "weak" revenue forecasts. Its revenues actually rose 58% year over year. Its TTM (Trailing Twelve Month) revenue is $379m. Its market cap is currently $5.1b based on a share price of $33.96. It is loss-making. Let me spell that out. If you make $379m in revenue, but you still cannot make a profit, then you do not have a viable business. Its valuation is over 10X revenue - a sky-high valuation level. I reckon that Silicon Valley startups are going to have to lose 90% of the valuation in order to get close to more rational level of valuation.
Average house price: £296,000
Average discount on the asking price: 4%
Average first time buyer ager 2021: 32
Average time it takes to sell: 18 weeks
Proportion of sellers who've cut the asking price: 25%
Average gain in price since the onset of the pandemic: £69,000
Average first time buyer deposit 2021: £53,935