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Patrick Boyle On Finance
Startups Are Shutting Down!
Jan 21, 2024
The podcast explores the shutdown of big startups, the challenges faced by venture capitalists, and the impact on the economy. It discusses the reasons behind startup failures, such as financial struggles and unexpected challenges. The podcast also examines the implications for investors and the broader trends in startup failures. Additionally, it explores the rise of zombie firms and their negative impact on healthy firms and the global economy.
18:47
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Quick takeaways
- Over 3,000 venture-backed startups failed in the last year, with 19% being funded at a lower valuation than previous rounds.
- The surge in VC investment led to a flood of capital into startups with untested business models, exposing their weaknesses as investor preferences shifted towards profitability.
Deep dives
Startups failing and financial losses
According to PitchBook, over 3,000 venture-backed startups failed in the last year, with 19% being funded at a lower valuation than previous rounds. Additionally, 38% of venture capitalists (VCs) stopped making deals, and there were significant layoffs in the tech industry. These failures include companies like Hyperloop One, Bird, Smile Direct Club, and Olive AI, which all faced financial troubles and shut down.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode