Venture capitalists are experiencing a notable shift in focus, with many transitioning back to web3 technologies after previously investing in artificial intelligence and defense tech. This pivot comes as optimism grows regarding the initial public offering (IPO) market, which is expected to see a resurgence in 2025. Following the recent U.S. elections, VCs are hopeful for a return of IPOs, as secondary markets have been providing liquidity in the meantime. Industry experts have expressed concern over the lack of VC-backed startups going public in the past year, despite stock markets reaching all-time highs. The sentiment among venture capitalists suggests a belief that the upcoming IPO market could signify a new era reminiscent of the 'roaring 20s'.