It’s hard to believe all of you Term Sheet readers have been stuck with me for a whole year now. How little did I know when I started writing about the private markets for this newsletter what we were all in for.
Valuations fell to pieces. FTX blew up, and Sam Bankman-Fried is in custody. Kewsong Lee abruptly resigned from the Carlyle Group. Russia invaded Ukraine. Elizabeth Holmes was found guilty of fraud, then later sentenced to prison. A16z wrote its biggest first-time check to Adam Neumann’s new startup. I had nearly forgotten there was even a Trump SPAC.
