Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #272
2022 headlines are all about tech stocks getting crushed but if you read on, there is a silver lining. While I’ve always believed that a correction on valuation multiples was imminent, focusing on the stock market tick by tick could cause one to lose their mind. If you’re a believer in enterprise IT and infrastructure, what you want to look at is where IT spending is going. And one of the most transparent organizations to analyze is JP Morgan. They are usually a leading indicator of what other banks (largest spenders in tech) are doing and hence other large multinationals. As tech spending increases, there are usually plenty of net new opportunities for startups to sell into. In a flat or downward spending cycle, much of the opportunity becomes all about replacement of old tech which means super long sales cycles. The good news is that in JPM’s Q4 2021 earnings call/report they spent $12B on tech in 2021 and expect that to grow over 20%, yes over 20% to $14.4B (PDF here).
Here’s Jamie Dimon on cloud spend - still lots of apps to be migrated from legacy data centers to the cloud:
Add to that this most recent Morgan Stanley CIO report 🧵… Some takeaways from Morgan Stanley's Q4 CIO survey
- Software has the highest growth expectations in IT
- Strong demand in software persisting (not simply pull forward in 2021)
- Cloud computing remains CIO's top priorities
- Security software most defensible
More graphs below and I see continued scaling of enterprise IT ARR and we’re still early! As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups
Enterprise Tech
Markets
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What's 🔥 in Enterprise IT/VC #271
Saturday, January 8, 2022
📉 What a start to 2022 but no time to panic
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Happy New Year 🥳 - 7 themes from 2021 + 4 macro predictions for 2022
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Happy Holidays 🎄! A time to reflect, recharge the 🔋, and think about talent
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Open source infra on 🔥 with 🪳 + Sysdig rounds...on flip side, lessons learned on how too much 💰 too early can kill a company...
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The Rise of a D2E (Developer2Enterprise) Juggernaut - MongoDB
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