RECESSION: Term Sheet readers predict an economic downturn in 2019. CRYPTO: Readers are betting on the growth of blockchain technology. M&A: Readers predict some major acquisitions in the coming year. IPOS: Readers expect 2019 to be a strong year for tech IPOs. STARTUPS: Readers predict more money to chase even fewer deals in 2019. GLOBAL: Readers predict it’ll be a challenging year for global markets.
“Softbank announces they will not do another Vision Fund and we start to see large GPs raise smaller funds than the 2016-2018 vintages. All this from experiencing first hand the phenomenon of diminishing returns as fund size increases. I think the toxicity of Saudi money is part of it, but more than anything I think that many of the companies they invested in are now over-capitalized and will suffer as a result. Not all, but I think many will have a lack of fiscal discipline that comes from too much easy money.”