Jim Breuer: 90% of unicorns are doomed

American venture capitalist Jim Breyer, who made his fortune by investing in Facebook, shares his optimistic views on the future of the technology industry.



His special hopes are connected with the development of artificial intelligence technologies. He claims that his firm does not invest in projects not related to data mining. Breuer argues that the era of artificial intelligence is like the dawn of social networking, which has completely changed the digital landscape. He prophesies a bright future for the IT world. However, not without victims, says Breuer.



According to him, of all startups valued at billions of dollars, 90% will be re-evaluated or will die, and only 10% of unicorns will survive without significant losses. Breuer believes that this is due to the fact that initially start-ups get an overestimated assessment, which is built on the basis of an overly optimistic vision and short-sighted approach.

')

Jim Breuer shared his thoughts during the annual meetings organized by the World Economic Forum, which are traditionally held in Davos, the famous ski resort in Switzerland. This year, such meetings are held from January 20 to 23.



Last week, an unknown head of a large IT company in Silicon Valley said that he expected the start-ups to collapse, as this would benefit the technology industry. According to him, earlier in the Valley there were a lot of unusual people, and now arrogant people have replaced them, so he sees in the fall of startups a chance to get rid of unworthy market players.



To this comment, Mr. Breuer replied that arrogance has no place in Silicon Valley, especially given the fact that titans like Facebook and Amazon are full of energy like never before.