Serial entrepreneur Brent Hoberman joined Sifted’s podcast to assess the fallout from Keir Starmer’s resignation and the looming rise of Andy Burnham. Hoberman, co‑founder of Lastminute.com and head of Firstminute Capital, argued that a socialist‑leaning government could push corporate tax rates to “high hell,” a scenario that would strain early‑stage investors.

He noted that London Tech Week, co‑hosted by his Founders Forum, now showcases ambitions far beyond past startup rallies, with “LLM wrapper” ventures gaining traction despite his earlier skepticism. Hoberman’s shift reflects a broader market recalibration as AI‑driven models attract sizable capital, prompting founders to rethink go‑to‑market strategies.

When asked about taking companies public, Hoberton described the process as “a marathon of regulatory hoops and market timing.” His candid take suggests that heightened tax pressure and evolving AI hype could reshape fundraising dynamics, forcing VC‑backed firms to prioritize profitability over growth.