A new year in venture capital is unpredictable, with a significant decline in U.S. firms as investors focus on established Silicon Valley names, particularly in AI. Experts predict that wealthy individuals will increasingly seek private market returns, anticipating over $7 trillion in investments by 2033. While IPO markets may reopen and investment pacing could improve, challenges remain for AI startups, many still in the experimental phase. Trends include the rise of solo GPs and specialized funds, while the focus shifts from user metrics to financial fundamentals. Unexpectedly, major unicorns could face mergers or closures, and geopolitical events may reshape the landscape.