The three-headed monster of inflation, COVID and antitrust will dominate the attention of tech executives this year but the industry remains a prime investment opportunity because of emerging technology, Silicon Valley legend John Chambers predicts.
“Overall, tech is still a great opportunity” to invest, Chambers, the billionaire venture capitalist who was chief executive of Cisco Systems Inc. CSCO, -0.40% for 20 years, told MarketWatch in a wide-ranging phone interview Wednesday. But he doesn’t expect the land rush of initial public offerings that swamped public markets in 2021.
“Last year, a lot of companies went public via IPO and SPAC that shouldn’t have,” Chambers said. “Two-thirds of IPOs closed the year below their IPO price. They went out too early. This year the market will be more selective about SPACs and IPOs.”
What Chambers does anticipate is fertile ground for startups specializing in artificial intelligence, cybersecurity, and cloud moving…