This Week in Startups YC reduces S22 batch by 40%, $HOOD RIF, $MSTR CEO change, $ABNB earnings + Blueprint Part 4 | E1525
Aug 4, 2022
Dive into the big developments shaking the startup world! Y Combinator slashes its summer cohort size by 40%, prompting reflections on early-stage challenges. Robinhood announces a significant workforce reduction amidst dwindling revenue. Michael Saylor steps down as CEO of MicroStrategy—what's next for the company? Airbnb reports earnings amid changing travel trends. Finally, discover the power of a bias for action in boosting innovation and success, as highlighted in the Blueprint segment!
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YC Cohort Reduction
- Y Combinator decreased its summer 2022 cohort size by 40% due to the macroeconomic downturn and changes in the venture funding environment.
- This along with other recent changes signals a shift in the early-stage startup ecosystem.
RIF vs. Layoff vs. Furlough
- Founders should learn the difference between RIF, layoff, and furlough.
- A RIF is a permanent reduction, layoff is temporary, and furlough is unpaid leave with potential return.
Deep Cuts Early
- Bill Gurley advises companies to make necessary cuts deep and early.
- Multiple smaller RIFs cause more pain without the needed gain of one larger one.