‘Reset has arrived’ for tech industry, investors warn‘NEW WORLD’: Some start-ups’ valuations have dropped 30% to 50%, with China being especially hard hit due to crackdowns on the private sector, venture capitalists saidBloombergThe technology industry is facing a fundamental overhaul with rising geopolitical tensions and dwindling investor appetite for money-losing start-ups, a panel of leading venture capital partners said. “The reset has arrived,” GGV Capital managing partner Jenny Lee (李宏瑋) said. The venture capitalist said that money is harder to come by for start-ups and valuations have dropped 30 percent to 50 percent in some cases. The sentiment was echoed by other investors on the panel at the Bloomberg New Economy Forum. The value of venture capital deals in the country tumbled 44 percent to US$62.1 billion through last month, compared with the same period last year, research firm Preqin said.

Source: Taipei Times November 17, 2022 03:59 UTC