This Week in Startups Praying For Exits on Markets, Crypto, Startup Valuations + Anisha Sunkerneni of Cyphr VC | E1492
Jun 25, 2022
In this engaging discussion, the anonymous Praying For Exits shares sharp insights on the volatile tech market and the fallout from the recent startup crash, questioning the role of VCs in inflated valuations. Anisha Sunkerneni, a partner at Cyphr VC, highlights key takeaways from NFT NYC, navigating the tech event landscape, and the importance of networking for meaningful connections in Web3. Together, they explore the evolving dynamics of investment and the critical role of transparency in the investor-founder relationship.
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Power Shift in Venture Capital
- Founders had most of the power during the peak market because they controlled funding rounds.
- This has shifted, and investors now have more power due to constricted capital.
Due Diligence Red Flags
- Some founders refused to provide due diligence materials, even to investors writing significant checks.
- This lack of transparency was a red flag, indicating overvaluation and potential issues.
VC Popularity Contest
- Some inexperienced VCs avoided due diligence to stay popular with founders, contributing to market instability.
- This behavior was driven by inexperience, lack of mentorship, and fear of losing deals.