Market dissonance doesn’t always include an easy hot take
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Market dissonance doesn’t always include an easy hot take
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Market dissonance doesn’t always include an easy hot take
Welcome to Startups Weekly, a fresh human-first take on this week’s startup news and trends. To get this in your inbox, subscribe here.
At this point, it’s clear that no one agrees on anything. Half my sources say that early-stage venture completely is uncorrelated to the public stock market, while the other half say that everyone is pivoting their way to profitability to extend runway — regardless of stage. And while the dissonance is an evergreen story to cover, it’s also confusing.
For example, how can there be more VC dry powder than ever, but also a slowdown in investments? How can fintech still receive one out of every five dollars of venture finance, yet still be the sector with the most layoffs of this recent wave? How can LPs be rethinking their venture capital positions, but it also be an optimistic time for emerging fund managers to finally debut? How can Stripe’s adjusted valuation be bullish news of a company ahead of the curve, while also be a decline in what it’s worth amid fintech’s public market downturn?
These are all rhetorical questions, so to quote my favorite podcast, don’t DM me. I point out these imbalances not to complain but to hopefully give some validation on how you may be feeling these days. A lot of things can happen at the same time, which makes absolute statements pretty useless as far as startup theory and market comprehension goes.
It’s the season of unlearning, in a way. I sat in on an emerging fund manager meetup the other week and very much felt surprised by the optimism in the room. The investors weren’t as obsessed with the market’s impact on venture fundraising as I was; they were stressed about LPs, sure, but also were more focused on expanding their definition on what an LP can be. And just like that, the story I was working on about it being a difficult environment for emerging fund managers got another layer of nuance.
My best advice on navigating a time of change? Keep reading, question your sources and don’t feel like you need to have an immediate take on the Big Tech News Item of the week.
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