Hi there,
 

Here is this week in charts.

Home sweet home. Amid the shift to remote work, where did tech workers relocate? Warmer, cheaper, and more tax-friendly cities like Miami and Houston were clear winners, according to LinkedIn data. Miami startups have also seen a corresponding jump in venture dollars, though Silicon Valley and New York still dwarf its totals.

Bear territory. It’s been a rough start to the year for US tech IPOs. Only 1 of the 50+ tech companies that made their public debut in the US this year has fallen less than 20% from its peak price as of December 6. Of the top 10 most valuable US tech IPOs this year, 4 — Robinhood, Coinbase, DiDi, and UiPath — have dropped below their offer price. Concerns about inflation and rising interest rates, coupled with the “high-valued, high-growth, money-losing” nature of these companies, have contributed to the sell-off.

Cloudy with a chance of SaaS. Amazon’s cloud business — Amazon Web Services — accounts for more than half of the e-commerce giant’s profit despite only generating 12% of total revenue. Given the margins in SaaS businesses, Amazon has been bulking up its software products for everything from industrial analytics for manufacturers to checkout technology for brick-and-mortar retailers.

Speaking of the cloud. We’re still in the early days of cloud adoption — just 10-15% of enterprise IT spending and 20-30% of workflows have moved to the cloud. But cloud adoption is accelerating, creating new opportunities for cloud services and solutions. 

Baby blues. While men in China once saw higher wages post-childbirth (the “fatherhood premium”), they’re now seeing wage declines like women (the “motherhood penalty”). Researchers point to market reforms and sociological changes in recent years that have increased parents’ childcare responsibilities as factors driving the trend.  

Roadtrip. Gas prices have fallen a whopping $.02, but of course, when you want to sell a narrative, you take some liberties to make your point. Be vigilant out there folks.  
 

I love you.

Anand

@asanwal

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