Hi there, 

Here is this week in charts.

India’s moment. India’s share of global smartphone production is growing while China’s is shrinking. This trend highlights how major tech companies, like Apple, are shifting their operational focus toward India. But these companies aren’t only interested in India as a manufacturing base. With its large population increasingly using smartphones, India also represents a significant consumer market opportunity. Speaking to this opportunity, Apple recently opened its first physical store in the country. Dive deeper into Apple’s growth strategy in this report.

Because you’re worth it. L’Oréal recently acquired Aēsop for $2.5B. While this is L’Oréal’s biggest acquisition to date, it’s not an overly shocking figure in the skincare space. Other skincare companies have been acquired at similar valuations, like Deciem ($2.2B) and Paula’s Choice ($2B). Still, such a high price tag begs the question: Did L’Oréal overpay for Aēsop? Get the answer and find out which other premium beauty players may be overvalued in this brief.

Adderall haul. The number of patients aged 22-44 with an Adderall prescription rose sharply amid the pandemic. In fact, there are now more adults with an Adderall prescription than a formal ADHD diagnosis. The increase in prescription volume among this age cohort was likely driven in part by the rise of telehealth platforms, which saw funding climb over the same period. However, in a reversal from the pandemic era, funding to the telehealth space has dropped, which could impact prescription accessibility via those channels moving forward. Dive into the rise and fall of telehealth funding in this report.

On repeat. The global venture funding decline has carried into 2023. After falling each quarter in 2022, funding fell yet again in Q1’23. Deal count also continued to tumble, dropping for the fourth straight quarter to hit 7,024. This slowdown is taking place across global regions, with the US, Asia, Europe, Africa, and Latin America all experiencing funding drops in Q1’23. While US funding only fell by 1%, this figure was heavily inflated by Stripe’s $6.5B mega-round, which accounted for 20% of the region’s total funding last quarter. Find out which regions were hit the hardest in our Q1’23 State of Venture Report.

College years. After adjusting for inflation, average college tuition and fees have declined across public and private institutions in recent years. Some point to the drop in college enrollment as a contributing factor. While some institutions are exploring price cuts to attract students as enrollment slows, others are considering other options, like expanding financial aid. What role does tech play in this disruption? Find out in this research brief. Now, wish me luck as I try to (once again) convince my wife that our kids don’t necessarily need to go to college.

Disappearing act. Look at the y-axis game they’re playing on this one. 

I love you. 

Anand

@asanwal

P.S. Our analysts are going to dive into our State of Venture Q1’23 Report next week. Register today to save your spot.

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