January 25, 2014
Google’s reminds executives everywhere that every company is now a tech company. I received calls from executives from at least 20 “non-tech” companies last week all asking the same thing: “Which tech companies are in our space?” There’s a race happening now: “Non-tech” companies are trying to understand how to use technology before tech companies break into their space. Even banks are on the lookout: Bank of America is cutting 20% of it’s retail brick & mortar branch locations because of increased mobile usage.
No one’s sure which way seed-stage valuations are going, but everyone has an opinion. Pitchbook says they’ve gone up through 2013. AngelList’s data suggests that they’ve fallen in 2013. If anything’s clear, it’s that everyone’s data is incomplete – investors beware. If you’re on either side of the table, my best advice is that you make an effort to get plugged into the startup scene in Silicon Valley and/or New York City. It’s not perfect advice, but you’re better off talking to more founders and investors to get an understanding of the market.
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