Jason Lemkin (written in early Oct): “Since December 2021 it’s been rough for SaaS liquidity: There have only been 3 SaaS IPOs since 2021: Klaviyo, Rubrik, and OneStream. Just 3. A record low…The Top 10 Software acquirors’ M&A activity is down -90% or more from 2021.”
WSJ: “Private equity…is no foreign player in the skilled trades these days. PE firms across the country have been scooping up home services like HVAC—that is, heating, ventilation and air conditioning—as well as plumbing and electrical companies. They hope to profit by running larger, more profitable operations. Their growth marks a major shift, taking home-services firms away from family operators by offering mom-and-pop shops seven-figure and eight-figure paydays. It is a contrast from previous generations, when more owners handed companies down to their children or employees.”
Mint: “In the 1950s, manufacturing was about 10% of India’s economy. Since 2010, it has averaged about 17.7%. When the ‘Make in India’ campaign was launched in 2014, it was 17.3%. As the economy expanded over the years, the share of agriculture declined while that of services rose. The share of manufacturing has never reached even 20%. The reasons for this are well documented: Difficulties in obtaining a multiplicity of required licences, delays in acquiring key requirements such as land, hundreds of stringent labour regulations that make taking on labour costly and incentivize the formation of small rather than large integrated firms, and deficiencies of physical infrastructure and governance at the level of states.”
Harsh Mariwala: “Entrepreneurs are often treated like mythical creatures—visionary, creative and self-actualized. But this aura leaves no room for their vulnerability. We rarely talk about their unique stressors and challenges. In my journey as an entrepreneur and from conversations with others, I have learned that many of us experience anxiety, sleeplessness, irritability, anger, guilt, sadness and isolation at some time or another. There are mental health implications of linking your identity with a business, along with the constant fear of failure or of not fulfilling your role in enterprise and society. With the entrepreneurial ecosystem becoming increasingly competitive, these risks get pronounced.”
