????Twitter會被收購嗎？馬克?安德森不會就此妄下論斷。但在上周三舊金山的《財富》科技頭腦風暴晚宴上，安德森對最近科技行業并購案過少、公司估值、人才多元化以及科技行業泡沫論等問題都給出了自己的看法。

????“近五年來，科技界的并購量之少令我震驚。”他向《財富》高級編輯丹?普利馬克說道：“目前的市場極度厭惡風險，投資者的現金回報令人擔心。按照以往情況，并購案應該不只現在這么點。”

????他認為，對缺乏足夠保護機制的上市公司來說，現在面臨的風險極高。也就是說，公司要選在此時上市必須考慮清楚。安德森警告說：“如果在這種環境下還決定上市，只能祈求上帝保佑。”

????當被問到安德森霍羅威茨——即安德森的風投公司是否故意推高科技公司估值時，他回答說，如果某家公司估值過高，他們一般會選擇退出。

????盡管多數人一致認為科技公司的晚期估值正如火箭般飆漲，但安德森說，估值方面的話題沒什么好討論的，最應該關注的是公司的實質。

????近來另一位硅谷風投家比爾?格利一直在警告科技行業存在泡沫，安德森卻沒那么擔心。在他看來，科技領域的總投資規模約為500億美元，而標普500公司帶來的回報約為1萬億美元。也就是說，科技投資只占美國股市總回報的二十分之一，數目也并不高。他說，從這些數字看，市場上并沒有泡沫。

????安德森表示，在創新條件已經成熟的軟件科技領域，其公司在尋找投資目標時會更深入一些，打算從教育和醫療保健方面著手。為了做好垂直領域的投資，該公司最近還專門招聘了相關人才。不過垂直領域的創新面臨著不少障礙，比如監管方面的壓力。安德森說，只有專門領域的創始人才能解決這些障礙。

????同時，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據。在公司全部107名員工中，女性占52%，而且女員工在績效考核中的表現要優于男員工。他補充說，員工中有20%是黑人或拉丁裔。

????不過，安德森霍羅威茨還沒有任命過女性投資合伙人。安德森說，他跟搭檔本?霍羅威茨成立公司后，就誠邀過一位女士加盟，但被拒絕了。他們并未放棄，后來又邀請了她五次，但都無功而返。

????他解釋說：“一個問題是從事這個行業的女性太少，我們必須努力幫助有潛力的人穩步上升。”為了改變現狀，安德森和謝莉爾?桑德伯格聯合推出了一項培訓，為處于事業上升期的女性領導者提供幫助。安德森的公司也經常積極組織活動，鼓勵少數族裔、女性和業內資深人士多多交流，公司今后會投入更多資源推進員工多元化和包容性。

????他說：“這些事總得有人來做，我們只是開了個頭。”（財富中文網）

????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.