A paradigm shift? Or business as usual?

Much has been written about the record funding for startups last year. From the surface of it, it would look like at least some things are back to normal. According to the latest Venture Funding Report from CB Insights :?

• Global venture funding reached a record $621 billion in 2021, more than doubled the $294 billion funding in 2020. The last quarter closed with an all-time high of $176B — the 6th straight quarter of growth.
• The number of unicorns reaches 959 in 2021 globally — up 69% from 2020 — with the year seeing a staggering 517 unicorn births.
• The number of $100M-plus mega-rounds crossed the 1,000 barrier for the first time in 2021, breaking last year’s record of 630. While mega-rounds made up about 5% of global deals, they accounted for 59% of total funding dollars.
• Annual US venture funding doubled to hit a record high of $311 billion in 2021, accounting for half the global total.
• Asia is now the top region for global deals in 2021, with 36% deal share. The region’s 12,485 deals surpassed the US deal count for the first time in 7 years. Deals to China-based startups accounted for over half of Asia’s total.

Then again, we don’t need year-end reports to show us the astounding amount of money being poured into the startup ecosystem. Business as usual — but only better, isn’t it?

But wait. There is more. 2021 was also the year of space tourism, where we saw billionaires Jeff Bezos and Richard Branson taking historic rides to the edge of space.?

Time to pop the champagne? Or not.

Unfortunately, not everyone is feeling the same love.?

While 2021 was a record breaking year for VC funding in the US, but not for the same reason for everyone. Female founders received only 2% of the pie, and not only has the percentage shrunk two years in a row, it is also the smallest share in the past five years.

Where was the paradigm shift that we were promised? And the ensuing disruption that would have changed how capital is distributed and how new businesses are formed??

Where did the money go?

According to Oxfam’s latest report, “Inequality kills ”, the fortunes of the world’s top 10 billionaires doubled from $700 billion to $1.5 trillion during the global pandemic; this amounts to $1.3 billion a day, or $15,000 per second.

Meanwhile the incomes of 99% of humanity fell, and over 160 million more people around the world were forced into poverty. So much so that if these ten men were to lose 99.999% of their wealth tomorrow, they would still be richer than 99% of all the people on this planet.

“If the 10 richest men spent a million dollars each a day, it would take them 414 years to spend their combined wealth."

What could we have done with ten million dollars each day? What problem would we be able to solve?

How did wealth become so concentrated in the hands of a few?

It does make you wonder.

Extreme economic inequality does not happen by accident. It is a policy choice.

There is a cost to inequality.?

Let that sink in for a moment.

Look up

Have you been on an escalator that is going down but you are trying to run up the stairs??

I feel that. Sometimes on days like this more than others.?

It reminds me of a recent satire “Don’t Look Up” where astronomers went on a media tour to try to warn the world of an approaching comet that would destroy planet Earth. I won’t spoil you with the ending, but it does draw parallel to what we see far too often in the fight for equality and a more sustainable world.

No matter how hard we try, progress feels symbolic at best. Promises ring hollow when you see the same actions being rewarded again and again.

But that doesn’t mean we stop fighting. It just means we have to work harder. Because the status quo is simply unacceptable. Because giving up is a luxury we cannot afford.

As we begin the year anew, let's make a promise to each other. Look for the helpers and allies. Stay curious and don’t stop learning, especially from those outside of our social circles. And especially from those outside of our own innovation ecosystem. Challenge our assumptions and broaden our minds. Listen; truly listen.

And find ways to give back. Give — not because you expect something in return. Give — because it is the right thing to do.

We don’t need to travel to space to admire our Blue Marble and the good in this world that is worth fighting for. We can do that right here on Earth.?

If we just look up.?

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In the latest episode of One Vision , available via Apple Podcasts , Spotify , and other players , we chat with Alessandro Hatami , Managing Partner of Pacemakers, and co-author of Reinventing Banking and Finance , on bank innovation and the past, present, and future of financial services. In a world where everything is connected and innovation is everywhere, it is time to rethink the role we play in society. The most promising transformational model for the bank of the future will be one that is based on trust and value.

And to quote Alessandro: “The future is here and the future will be better than the past.” The question is, are you ready?

Give it a listen and drop us a review.

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