10k Words - August 2021
Martin Pretty, Equitable Investors
9 August 2021
Apparently, Confucius didn't say "One Picture is Worth Ten Thousand Words" after all. It was an advertisement in a 1920s trade journal for the use of images in advertisements on the sides of streetcars. Even without the credibility of Confucius behind it, we think this saying has merit. Each month we share a few charts or images we consider noteworthy.
There's plenty of takeover action on the ASX at the moment as is evident from Dealogic data and Deloitte surveying. But it isn't just the listed markets - Crunchbase highlights the unprecedented pace at which VC-backed startups by other VC-backed startups. What's relatively cheap or expensive in the Internet space? Research boutique MoffettNathanson has a crack at answering. Goldman Sachs, meanwhile, upgrades its return expectations for US equities. With Sydney in lockdown for weeks now and Melbourne recently joining it, data from ANZ shows a decline in consumer transactions since May BUT data from payments company Tyro shows year-on-year growth.
ASX 200 executives expectations for the number of deals their organisation will pursue in the coming 12 months
Australasia Targeted M&A by Quarter ($US)
Source: dealogic, WSJ
Acquisitions of VC-backed startups by other VC-backed startups
Source: Crunchbase News
Internet Sector annual forecast revenue growth relative to EV/revenue valuation
Source: FT.com, MoffettNathanson
Drivers of Goldman Sachs' return expectations for the S&P 500
Source: Goldman Sachs
Sydney weekly spending
Source: SMH, ANZ Research
Tyro's weekly transaction year-on-year growth (most recent transactions in red, prior 12 months in blue)
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