The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 6 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Loftus: Big Tech Buyer Softening Has Kept Startup Acquisition Prices Moderate
“So I haven't seen a ton of price increase, but I do think that's because in my view, even though you've seen new entrants into the market, There's been softening at the other end of the market from the Google, Facebook, Apple, Amazon end.”
Loftus: M&A Has Become the Absolute Primary Method of Tech Exits
“One factor that I think has moderated prices a little bit is that M&A has become the absolute primary method of exits.”
Loftus: Big tech giants are doing fewer mid-market acquisitions under $200M
“It does feel like the large tech acquirers or the big five have at least slowed down the pace, like a number of acquisitions they're doing. Obviously you have Amazon doing something giant like Whole Foods, but it feels like the deals that are sort of the bread…”
Loftus: Pre-term sheet Silicon Valley M&A deals have under 50% close rate
“By and large, and this isn't necessarily true for Square, but across Silicon Valley, once that term sheet is signed, that's a pretty high outcome rate. I wouldn't want to guess a percentage, but those deals usually close, but before you have a term sheet, befo…”
Google completed over 120 acquisitions in three years with four lawyers
“We did over a 120 acquisitions in just over three years, and there were only four M&A lawyers.”
Loftus: Major tech corp dev teams are perpetually overwhelmed by deal flow
“Corporate development teams across the Silicon Valley, including at Facebook and Google, are small compared to the opportunity set that they're evaluating. There's just so many companies out there all the time to evaluate, and if you're even at Square, you kno…”