CB Insights - Silicon Valley vs. New York

Digital health's moment.
Binance vs. Coinbase. A 6000% pie chart.

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January 13, 2022

The Valley’s still got it

Hi there,

Here is this week in charts.

THIS WEEK IN CHARTS

Source: CB Insights

SV’s haul. Silicon Valley is still, far and away, the tech capital of the US. Startups in the metro (including SF) raised $105B in 2021, more than doubling 2020’s total of $52B. New York took the #2 spot at $55B in funding, growing threefold from last year’s $18B. For every $2 invested in Silicon Valley, $1 now goes to New York.

Source: Bloomberg

Big-nance. Crypto exchange Binance, which was founded in 2017 and initially headquartered in China, generated $20B+ in revenue in 2021, per Bloomberg estimates. That would triple US-based Coinbase’s estimated 2021 revenue, and make it the world’s largest crypto exchange. Binance, however, is facing increasing regulatory scrutiny — an area where Coinbase has sought to differentiate itself from other exchanges by spending substantially on licenses and compliance.

Source: The Economist

Healthcare’s new look. Tech companies are shaking up healthcare, targeting patients directly through virtual care, digital therapeutics, and more. The digital health sector now accounts for 90 healthcare unicorns, and it attracted over $50B in global funding in 2021. And it’s not just startups that want a piece of the healthcare pie — which, in the US, represents 18% of the nation's GDP — big tech companies are also investing heavily in consumer health products, services, and companies.

Source: Twitter

Crypto calls. While crypto enthusiasts may be all aboard the $100,000 Bitcoin train, JPMorgan clients are a bit more bearish. Only 5% of clients polled by the bank said they anticipate the cryptocurrency trading at $100,000 or above by the end of the year. Just over 40%, however, see the coin heading to around $60,000, about where it was 2 months ago. Need a refresher on Bitcoin? We’ve got you covered in this explainer.

Source: The Daily Shot

Money talks. After a decade of little movement, wages in the US leisure & hospitality industry have shot up over the last year. As the labor shortage drags on, companies have been bumping up wages to attract and keep workers, especially in sectors like hospitality where there’s been high job turnover. A record nearly 4.5M Americans quit their jobs in November, according to the latest data from the Labor Department.

The +1

Chart issues. TBH, making fun of pie charts never gets old. This one adds up to like 6000% and I’ve got no idea what the blob in the middle is.

I love you.

Anand

@asanwal

P.S. Get a behind-the-scenes look at the State Of Venture 2021 report on January 27. Sign up here.

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