There was a special, earnest energy in the room, partially because, as 500’s CEO Christine Tsai said, the 19 companies are sharing their vision for the future “around one of the darkest backdrops of Silicon Valley.” More to come on specific learnings, but below I thought I’d bullet point some of the tidbits I overheard while at the accelerator’s pitch session. I went to an in-person demo day for the first time since 2019 this week, courtesy of 500 Global. Image Credits: Andriy Onufriyenko (opens in a new window) / Getty Images Overheard at 500 Global’s demo day Heck, we even screencast ChatGPT trying to explain SVB during wine night, recently. Now that I apparently live in Cerebral Valley, it’s quite easy to find investors, founders or my great friends in the middle of a passionate conversation about artificial intelligence. You can also send me tips at or on Signal at +1 9. As always, you can follow me on Twitter or Instagram to continue the conversation. In the rest of this newsletter we’re talking AI, icons and demo days. In other words, yes, there’s a dreary dark cloud that is now more visible than before. My hope with this piece is to offer nuance on how the market moves on from here for a very specific subset of check writers. I know some of us are still reeling from the SVB mess, which is still very much unfolding. Now, the idea of backing just one, feels like a harder sell - depending on which institution you’re speaking to.įor my full take on this burgeoning tension within the venture world read my TC+ column: “Are solo GPs screwed?” It’s a shift from the fund of fund mentality that felt commonplace last year, in which investment firms cut checks to early-stage, experimental investors to de-risk and even lead first checks into a generation of new startups. Some have learned it the hard way, while others, like Sahil Lavingia, are telling LPs to literally cancel their checks if they feel guilty about investing in venture capital while the market rocks and interest rates boom. However, that’s what we’re seeing happen in the solo GP world, where investors, hearing about institutional investor risk appetite changing, are extending fundraising timelines, cutting investment vehicle targets or planning to leave venture altogether. It’s hard to be proactive after the tide has already shifted. To get this in your inbox, subscribe here. Welcome to Startups Weekly, a nuanced take on this week’s startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas.
0 Comments
Leave a Reply. |