The article also highlights various market, tech, and business news. Bobby Jain is planning a large hedge fund launch in 2024, and there are concerns about a potential crash in the commercial real estate market. In tech, only 44 startups reached unicorn status this year, and San Francisco remains the best city for tech pay. In business, advertising M&A is expected to rebound in 2024, and the housing market was the least affordable since 2013.
Key takeaways:
- Google's tumultuous year included layoffs and participation in a hyper-competitive AI race, leading some to question if the company's culture has changed forever.
- Shares of Alphabet, Google's parent company, are up more than 55% this year, indicating that Google's year of efficiency has been beneficial for its stock.
- Only 44 startups reached unicorn status ($1 billion) this year, compared to 195 in 2022. The newest unicorns include OpenAI and Liquid Death.
- The housing market in 2023 was the least affordable since 2013, with only 15.5% of homes being affordable for the typical household.