MMay7,202401:00PMGMTGlobalFoundationThematicsMorganStanley&Co.Internationalplc++44207425-0840+44207425-9902VentureVision:CapitalCrunchEdwardStanleyEquityStrategistEdward.Stanley@morganstanley.comMatiasOvrumEquityStrategistMatias.Ovrum@morganstanley.comTheonlytimebankruptciesandGDPgrowthhavedivergedthisOurVentureVisionweeklieslookat(1)early-muchhavebeenduringoraroundrecessionyears.stagecross-themefundingpatterns;(2)relativevaluationsbetweenthemes;(3)publicThetop-downnowtellsaverydifferentpicturetothebottom-up:versusprivatevaluations;(4)theresultinganomalieswithincertainthemes.Pleaseletus•Top-down,despitearelativeweakerjobsprint,showsamixedoutlookbutknowifyouwouldlikeourexceldatabaseofstillrelativeresilience.Thisisinspiteofconversationsaboutstagflation>45,000VCdealscategorisedbytheme,beginningtore-emerge.country,valueanddate.Wealsosendthisfileasaweeklydistributionifyouwouldliketoreceive•Bottom-up,historysuggestsweshouldhaveseenmorebankruptciesbythisitregularly.Seehereforourglobalmarketpointinamajormarketcorrectionsuchastheoneventure/growthhasseen.synopsis.SeehereforourlongeranalysisontheThisisparticularlythecasewhenbankruptciesfellby45%YoYin2021.ThestateoftheVCmarket,particularlyasitrelatesrampupinbankruptciestoc40%YoYin2H23/1H24isinlargepartapost-tonon-USVentureandinnovationacceleration.covidnormalisation.Ex...
发表评论取消回复