This Week in Startups Keith Rabois on 2023 macro outlook, startup valuations, founder advice, ChatGPT vs Google | E1650
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Jan 4, 2023 
Keith Rabois, partner at Founders Fund, shares his deep insights on the 2023 macroeconomic landscape and its impact on startup valuations. He discusses the effects of big tech hiring freezes on new ventures and offers tailored advice for various founder types. Rabois also critiques Meta's VR strategy and compares ChatGPT to Google, emphasizing how AI is shifting the search engine landscape. His perspective on leadership changes at Apple and the importance of founder authority rounds out an engaging conversation for any entrepreneur.
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2023 Macro Outlook
- The macro environment in 2023 is unpredictable, with inflation being the key driver.
- Even stabilizing inflation could lead to a severe consumer recession, making planning crucial.
Dynamic Planning for Founders
- Founders need to be dynamic in 2023 with multiple scenario plans.
- Consider potential downturns and adjust burn rate, fixed costs, and hiring plans quarterly.
Normalized Valuations
- Seed rounds at $10M, Series A at $20M, and Series B at $40-50M are the new normal.
- Founders should aim for these valuations; these reflect normalized historical averages.