Founder to Founder: Advice for Navigating the Downturn
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Here’s a note we sent to our customers earlier today, which we wanted to share with you as well in case you find it useful. (And be sure to check out “Ways we can potentially help” below—even if you’re not a customer, we’re happy to help.)
You’ve no doubt seen the recent news: in the broader economy, inflation is at 42-year highs, and US consumer sentiment is at 10-year lows. Late-stage venture capital investment slowed at the beginning of the year, and earlier-stage investments are seeing a similar slowdown. Valuations and revenue multiples have significantly decreased, for both private and public companies.
Basically, it’s scary out there, and if you’re proceeding as though it’s business-as-usual, you’re potentially setting yourself up for pain later. It’s not all bad news: some of the most iconic technology companies have been built during downturns, but advisors who have seen similar market conditions previously recommend navigating the situation thoughtfully.
Check out these other helpful resources as you navigate these times: