????Twitter會(huì)被收購(gòu)嗎？馬克?安德森不會(huì)就此妄下論斷。但在上周三舊金山的《財(cái)富》科技頭腦風(fēng)暴晚宴上，安德森對(duì)最近科技行業(yè)并購(gòu)案過(guò)少、公司估值、人才多元化以及科技行業(yè)泡沫論等問(wèn)題都給出了自己的看法。

????“近五年來(lái)，科技界的并購(gòu)量之少令我震驚?！彼颉敦?cái)富》高級(jí)編輯丹?普利馬克說(shuō)道：“目前的市場(chǎng)極度厭惡風(fēng)險(xiǎn)，投資者的現(xiàn)金回報(bào)令人擔(dān)心。按照以往情況，并購(gòu)案應(yīng)該不只現(xiàn)在這么點(diǎn)?！?/p>

????他認(rèn)為，對(duì)缺乏足夠保護(hù)機(jī)制的上市公司來(lái)說(shuō)，現(xiàn)在面臨的風(fēng)險(xiǎn)極高。也就是說(shuō)，公司要選在此時(shí)上市必須考慮清楚。安德森警告說(shuō)：“如果在這種環(huán)境下還決定上市，只能祈求上帝保佑?！?/p>

????當(dāng)被問(wèn)到安德森霍羅威茨——即安德森的風(fēng)投公司是否故意推高科技公司估值時(shí)，他回答說(shuō)，如果某家公司估值過(guò)高，他們一般會(huì)選擇退出。

????盡管多數(shù)人一致認(rèn)為科技公司的晚期估值正如火箭般飆漲，但安德森說(shuō)，估值方面的話題沒(méi)什么好討論的，最應(yīng)該關(guān)注的是公司的實(shí)質(zhì)。

????近來(lái)另一位硅谷風(fēng)投家比爾?格利一直在警告科技行業(yè)存在泡沫，安德森卻沒(méi)那么擔(dān)心。在他看來(lái)，科技領(lǐng)域的總投資規(guī)模約為500億美元，而標(biāo)普500公司帶來(lái)的回報(bào)約為1萬(wàn)億美元。也就是說(shuō)，科技投資只占美國(guó)股市總回報(bào)的二十分之一，數(shù)目也并不高。他說(shuō)，從這些數(shù)字看，市場(chǎng)上并沒(méi)有泡沫。

????安德森表示，在創(chuàng)新條件已經(jīng)成熟的軟件科技領(lǐng)域，其公司在尋找投資目標(biāo)時(shí)會(huì)更深入一些，打算從教育和醫(yī)療保健方面著手。為了做好垂直領(lǐng)域的投資，該公司最近還專門招聘了相關(guān)人才。不過(guò)垂直領(lǐng)域的創(chuàng)新面臨著不少障礙，比如監(jiān)管方面的壓力。安德森說(shuō)，只有專門領(lǐng)域的創(chuàng)始人才能解決這些障礙。

????同時(shí)，鑒于最近凱鵬華盈被指存在性別歧視，安德森透露了其公司的員工多元化數(shù)據(jù)。在公司全部107名員工中，女性占52%，而且女員工在績(jī)效考核中的表現(xiàn)要優(yōu)于男員工。他補(bǔ)充說(shuō)，員工中有20%是黑人或拉丁裔。

????不過(guò)，安德森霍羅威茨還沒(méi)有任命過(guò)女性投資合伙人。安德森說(shuō)，他跟搭檔本?霍羅威茨成立公司后，就誠(chéng)邀過(guò)一位女士加盟，但被拒絕了。他們并未放棄，后來(lái)又邀請(qǐng)了她五次，但都無(wú)功而返。

????他解釋說(shuō)：“一個(gè)問(wèn)題是從事這個(gè)行業(yè)的女性太少，我們必須努力幫助有潛力的人穩(wěn)步上升。”為了改變現(xiàn)狀，安德森和謝莉爾?桑德伯格聯(lián)合推出了一項(xiàng)培訓(xùn)，為處于事業(yè)上升期的女性領(lǐng)導(dǎo)者提供幫助。安德森的公司也經(jīng)常積極組織活動(dòng)，鼓勵(lì)少數(shù)族裔、女性和業(yè)內(nèi)資深人士多多交流，公司今后會(huì)投入更多資源推進(jìn)員工多元化和包容性。

????他說(shuō)：“這些事總得有人來(lái)做，我們只是開(kāi)了個(gè)頭。”（財(cái)富中文網(wǎng)）

????譯者：Charlie

????審校：夏林

????Will someone take over Twitter? Silicon Valley venture capitalist Marc Andreessen wouldn’t say, but at a Fortune Brainstorm Tech dinner in San Francisco on Wednesday night, he weighed in on the latest (or lack of) acquisitions, valuations, diversity, and bubble talk with regard to the technology industry.

????“I have been shocked in the last five years how little tech M&A there has been,” he told Fortune senior editor Dan Primack. “We’re in this environment of extreme risk aversion, and people are worried about returning cash to investors. Historically, there would have been more combinations.”

????There has never been a more dangerous time to be an unprotected public company, Andreessen said. Which means companies must take the process of making an initial public offering quite seriously. “If you go public in this environment,” he warned, “God help you.”

????Is Andreessen’s venture capital firm, Andreessen Horowitz, to blame for driving up valuations of private tech companies? He said that his firm routinely walks away from deals over valuations.

????Although most would agree that the valuations of late-stage tech companies are skyrocketing, Andreessen said he doesn’t think valuations should be the main topic of discussion. It should be the substance of the company that’s the main topic of conversation.

????Investor Bill Gurley has been sounding the tech bubble alarm for quite some time, but Andreessen wasn’t as concerned. In his view, the total amount of tech investing is around $50 billion dollars, and the S&P 500 will give back around $1 trillion. Tech only represents 1/20th of total dividends, which is still a small amount of money. And that doesn’t seem that high, he said, indicating we aren’t in a bubble.

????In terms of areas ripe for innovation in software technology, Andreessen said that the firm is going to be looking deeper into making investments in education and health care, recently bringing on new talent to explore these verticals for the firm. But there are obstacles to the necessary innovations, including regulatory hurdles. It takes special founders to tackle these hurdles, he says.

????And in light of the recent gender discrimination allegations against Kleiner Perkins, Andreessen shared diversity numbers at his firm. Of 107 employees, 52% are women, and women outperform male employees in reviews. He adds that 20% of employees are black or latino.

????But the fact is that Andreessen Horowitz still has yet to appoint a female general investment partners. Andreessen says that after he and his partner Ben Horowitz established the firm, his next offer was to a woman, who declined. They’ve persisted in recruiting her, and she’s turned them down each of the five times they’ve made an offer.

????“Part of the problem is that there are so few women, and we have to get more people rising up the ranks,” he explains. One the ways he’s hoping to change this is through an education program that he’s partnering with Sheryl Sandberg for, that trains rising female leaders to be on boards. Andreessen Horowitz is actively holding networking events for minorities, women and veterans, and will be putting more resources into diversity and inclusion.

????“We’re just scratching the surface of what needs to happen,” he said.