Source | LinkedIn : By Vani Kola
I couldn’t agree more with this statement. 2016 is a wake up call for all of us globally. The current political environment, rapid environmental change and use of technology in almost every facet of life coupled with rising socioeconomic inequality is a cause for serious concern.
As I sit back and reflect on 2016, a few thoughts bubble to the surface.
Brexit, Trump, Italian Referendum – the masses made their voices heard…
Globalisation has brought jobs and prosperity to new countries and continents, but somewhere it has left behind a section of the society impacted by this change, leading to increasing inequality and lack of inclusion in both developed countries and emerging economies. This dynamic has played out unlike anything we have seen before in our living memory (one could argue every revolution in history is the result of a great divide between the social classes).
While progress in technology has overcome many challenges for mankind, it also presents new challenges for governments, which are unprepared and ill-equipped to deal with it and for the average citizen whose daily life is not necessarily positively impacted by it. The masses are now making their voices heard, the tremors of questioning have begun but only time will tell what the outcome will look like.
However there is no turning back from the rise of technology impact in every field. Indeed, even if technology is replacing humans in many jobs, technology is also the hope for answers in curing diseases, improving lives, reversing climate change and a host of other challenges we must solve for. The pace of innovation and technology is directly related to access to risk capital starting with seed or venture investment, continued growth funding and robust capital markets.
Growth capital crunch – where have the hedge funds gone?
Startups in India have been facing their first real slowdown in funding since December 2015. After the boom and exuberance of 2015, an uneasy calm prevailed in the venture capital industry and a crippling stillness engulfed the hedge fund investors. They vanished from the startup ecosystem in a snap.
The surprise changes at SoftBank Group and its subsequent pull back on investments from India have kept the rumors mills at full throttle. Tiger Global turning cautious has been a disappointment to most entrepreneurs, considering the speed and alacrity of Tiger in closing deals.