Since 2011, Apple has been the largest company by market cap
This WSJ article about the smartphone decade was really interesting. Did you know that the Uber, Instagram, FaceTime, and Netflix apps all launched in 2010? Spotify and WhatsApp also launched in 2009. What an insane couple of years (and decade) for VCs and startups focused on mobile.
(Btw, check out this link to WhatsApp’s first marketing post back in 2009. Jan Koum asked the FlyerTalk forum to try a new app he built for people who travel a lot. Fun to read because no one wrote back to him for four years!)
2010s - Consumer vs. Enterprise Startups
Which makes more money - consumer or enterprise startups? Sapphire Ventures put together an interesting report looking at trends over the last decade. Here are the takeaways:
Since 1995, VC-backed enterprise tech companies have generated $884B in value vs. $773B in value for consumer tech companies
Enterprise is driven by ‘cohorts of exits’ while consumer is driven by large, individual exits
Consumer outliers like Facebook, Uber, or Snap can account for more than the sum of enterprise exits in any given year
While consumer deals have generated more IPO value in the last decade, enterprise accounts for two-thirds of $1B+ M&A outcomes
Overall, big opportunity for significant returns in consumer, but entrepreneurs are more likely to build unicorns in enterprise tech
You could get one of these!
I got a promo code, so I ordered a bunch of DL stickers. Send me an email with your address if you want one! Bonus points if your email says you’ve forwarded the DL to a friend 😊
Other stuff Dan's talking about
🐾 Tracked - The NYT did a big investigation into the location data that companies buy about you. You should check out their visualizations - it’s pretty terrifying. One excerpt from the article…
We were able to track smartphones in nearly every major government building and facility in Washington. We could follow them back to homes and, ultimately, their owners’ true identities. Even a prominent senator’s national security adviser — someone for whom privacy and security are core to their every working day — was identified and tracked in the data
🤓 Focused - New startup in SF charges $40 to have someone watch you work. Starts with a consultation on what you want to accomplish and then a two and a half hour working session. Actually sounds like a pretty good idea… Let me know if you book a session!
💼 Career Launching Startups - Every year, Wealthfront publishes a list of tech companies that they recommend young people start their careers. It’s a pretty Bay Area-focused list but still interesting to look at
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About me: I work as an investor at Madrona Venture Group, a Seattle-based venture capital firm that has been early partners with companies like Amazon, Smartsheet, Apptio, and Redfin.
If you have thoughts, questions, or comments, hit reply!