What The Market Downturn Means For Founders, VCs, And Web3
On this episode of The Good Time Show, Aarthi and Sriram cover the current economic conditions and what it means for technology startups and founders, as well as what it could mean for the future of Web3. We interviewed some of the best people in the business - Marc Andreessen and David George from a16z, former Microsoft exec and author Steven Sinofsky, veteran founder and investor Elad Gil, as well as Coinbase exec turned startup founder Dan Romero.
Timestamps
00:00 - Episode 2 introduction: Optimism in Technology
03:20 - Guest Introduction
07:36 - What founders should know about current inflationary moment
10:20 - Current funding environment - what it means for seed, A, B, and C-stage companies?
12:35 - What founders should know about the investment market right now
14:33 - Impact of secondary market sales by Founders
16:23 - Late-stage investment in the current environment
17:24 - How to think about a down market
21:02 - The change from prioritizing ARR valuation multiple to cash flow
23:11 - How are founders adapting to the new market conditions?
26:50 - How are VCs thinking about the current market?
31:56 - Why revising your valuation down is a good idea
33:19 - Moving away from the FOMO fundraising model
37:01 - This isn't 2008 or 2001, the hazard of thinking from analogy
42:08 - Founders should from how Coinbase survived crypto winters
45:35 - How employees should adapt to negative market conditions
49:15 - Reasons to be optimistic in a down market
58:29 - The ONE piece of advice every founder needs now
01:04:59 - Dan Romero explains what just happened in crypto
01:10:40 - Was this crypto downturn was predictable?
01:14:09 - Why is talent migrating from Web2 to Web3?
01:24:43 - Having fun is the indicator of the "next big thing" in crypto