Silicon Valley

Two Year IPO Drought Coming To An End In 2023, only 148 companies completed an initial public offering (IPO). This was the worst year on record and followed a 15% decline from the number of IPO's in 2022, another disappointing year. In 2023, ARM was the sole blockbuster tech IPO. After a brutal two years with a paucity of tech IPOs, the market is poised for a resurgence in 2024.

Sam Altman just faced his Steve Jobs moment when the OpenAI board fired him on Friday. The balance between too much governance and not enough innovation was the challenge OpenAI faced. This was a very immature board with members who had never built companies, never moved from ideology to commercialization, nor had any pragmatic board experience.

Market Conditions In California Working Against Silicon Valley Big Tech Pundits and industry watchers continue to forecast a demise in Silicon Valley and the tech companies in the region. While the valley's influence may be slowly diminishing, there's still a significant hub and concentration of talent unlike any other region in the world. For those who can still afford to live here, access to top talent, capital, weather, and industry expertise remains parallel to none.