Macro issues loom large
local news 📰
📚 Carlota Perez cycle
I think the last two years may have been the "frenzy" stage, with valuations exceeding 100x forward revenue. As economic conditions change — inflation, interest rates increase, public software deflation — we will likely see a downturn. VC will likely become less attractive on a relative basis while remaining attractive compared to other asset classes. Valuations will revert to the historical mean. It will take time because the fundraising and investment cycle is long, but it will happen. There will be some companies who do not make it through this transition, and it will have an impact on the entire industry, even for companies that are healthy from a fundamental perspective.
Will raising rates cause an economic downturn? Maybe. If that happens, will budgets get reduced? It's hard to say, but it's certainly reasonable to believe that some would.
💰 DevTools. Will Developers Pay?
For time and budget to be allocated to a developer tool, there needs to be a clear explanation of what the tool will do and how it will benefit customers.
Another factor to consider when evaluating a developer tool is its potential benefits for large companies. The value of using a tool is increased—for example, additional users, more workloads, or increased support as the tool becomes heavily used and relied on.
cash flow 🤑
London-based Built AI picks up £2 million to develop a digital twin for the commercial real estate market
Bristol-based startup Condense is on a mission to deliver connectivity of real-world events into the metaverse and has just picked up £3.7 million [alongside angels including a platinum-selling grime artist, former England footballer and sports presenter, Tom Blomfield (Monzo)]
Electric car subscription service Onto has just raised over £49.9 million. The UK-based startup is fueling the rising electric vehicle (EV) revolution
London-based Altruistiq raises £15 million for its climate tech software in a seed round
twitter spotlight 🔦
Absolute madness that Elon doesn't want to run Twitter, the Twitter board doesn't want to run Twitter, Twitter has 8,000 pple shipping random stuff nobody asked for bc who cares anymore, and the rest of us are carrying on like biz as usual
TWTR is a $30b public company lmao
— swyx 🌴 (@swyx)
Jul 29, 2022
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