Market dissonance doesn’t always include an easy hot take

July 16, 2022

analog clock and ball of US paper currency equally balanced on seesaw weight scale

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Stripe’s internal valuation is cut

Stripe is the latest high-profile fintech company to take a massive valuation cut as the market downturn begins to hit the sector especially hard. Last valued at $95 billion, the payments processor has cut the internal value of its shares by 28%,

Welcome to Startups Weekly, a fresh human-first take on this week’s startup news and trends. To get this in your inbox, subscribe here.

At this point, it’s clear that no one agrees on anything. Half my sources say that early-stage venture completely is uncorrelated to the public stock market, while the other half say that everyone is pivoting their way to profitability to extend runway — regardless of stage. And while the dissonance is an evergreen story to cover, it’s also confusing.

For example, how can there be more VC dry powder than ever, but also a slowdown in investments? How can fintech still receive one out of every five dollars of venture finance, yet still be the sector with the most layoffs of this recent wave? How can LPs be rethinking their venture capital positions, but it also be an optimistic time for emerging fund managers to finally debut? How can Stripe’s adjusted valuation be bullish news of a company ahead of the curve, while also be a decline in what it’s worth amid fintech’s public market downturn?

These are all rhetorical questions, so to quote my favorite podcast, don’t DM me. I point out these imbalances not to complain but to hopefully give some validation on how you may be feeling these days. A lot of things can happen at the same time, which makes absolute statements pretty useless as far as startup theory and market comprehension goes.

It’s the season of unlearning, in a way. I sat in on an emerging fund manager meetup the other week and very much felt surprised by the optimism in the room. The investors weren’t as obsessed with the market’s impact on venture fundraising as I was; they were stressed about LPs, sure, but also were more focused on expanding their definition on what an LP can be. And just like that, the story I was working on about it being a difficult environment for emerging fund managers got another layer of nuance.

My best advice on navigating a time of change? Keep reading, question your sources and don’t feel like you need to have an immediate take on the Big Tech News Item of the week.

In the rest of this newsletter, we’ll get into a creative twist on cap table management, the Roe reversal’s impact on tech and cauldrons. As always, you can support me by forwarding this newsletter to a friend or following me on Twitter or subscribing to my blog.

Deal of the week

Continuum is a venture-backed bet on fractional work, and, better yet, that founders want to show humanity during moments of crisis. The company, launched by CEO Nolan Church in August 2020, started as a play to connect startups to part-time executive help. Now, it has expanded to help struggling tech companies cut staff in a more humane, thoughtful way.

Here’s why it’s important: Continuum’s new layoff tool connects startup leadership teams to an HR executive who will help craft a …read more

https://techcrunch.com/2022/07/16/market-dissonance-doesnt-always-include-an-easy-hot-take/

Market dissonance doesn’t always include an easy hot take <body> <h1> Array ( [0] => narket dissonance doesn’t always include an easy hot take [1] => karket dissonance doesn’t always include an easy hot take [2] => jarket dissonance doesn’t always include an easy hot take [3] => mzrket dissonance doesn’t always include an easy hot take [4] => msrket dissonance doesn’t always include an easy hot take [5] => mwrket dissonance doesn’t always include an easy hot take [6] => mqrket dissonance doesn’t always include an easy hot take [7] => maeket dissonance doesn’t always include an easy hot take [8] => madket dissonance doesn’t always include an easy hot take [9] => mafket dissonance doesn’t always include an easy hot take [10] => matket dissonance doesn’t always include an easy hot take [11] => ma5ket dissonance doesn’t always include an easy hot take [12] => ma4ket dissonance doesn’t always include an easy hot take [13] => marjet dissonance doesn’t always include an easy hot take [14] => marmet dissonance doesn’t always include an easy hot take [15] => marlet dissonance doesn’t always include an easy hot take [16] => maroet dissonance doesn’t always include an easy hot take [17] => mariet dissonance doesn’t always include an easy hot take [18] => markwt dissonance doesn’t always include an easy hot take [19] => markst dissonance doesn’t always include an easy hot take [20] => markdt dissonance doesn’t always include an easy hot take [21] => markrt dissonance doesn’t always include an easy hot take [22] => mark4t dissonance doesn’t always include an easy hot take [23] => mark3t dissonance doesn’t always include an easy hot take [24] => marker dissonance doesn’t always include an easy hot take [25] => markef dissonance doesn’t always include an easy hot take [26] => markeg dissonance doesn’t always include an easy hot take [27] => markey dissonance doesn’t always include an easy hot take [28] => marke6 dissonance doesn’t always include an easy hot take [29] => marke5 dissonance doesn’t always include an easy hot take [30] => market sissonance doesn’t always include an easy hot take [31] => market xissonance doesn’t always include an easy hot take [32] => market cissonance doesn’t always include an easy hot take [33] => market fissonance doesn’t always include an easy hot take [34] => market rissonance doesn’t always include an easy hot take [35] => market eissonance doesn’t always include an easy hot take [36] => market dussonance doesn’t always include an easy hot take [37] => market djssonance doesn’t always include an easy hot take [38] => market dkssonance doesn’t always include an easy hot take [39] => market dossonance doesn’t always include an easy hot take [40] => market d9ssonance doesn’t always include an easy hot take [41] => market d8ssonance doesn’t always include an easy hot take [42] => market diasonance doesn’t always include an easy hot take [43] => market dizsonance doesn’t always include an easy hot take [44] => market dixsonance doesn’t always include an easy hot take [45] => market didsonance doesn’t always include an easy hot take [46] => market diesonance doesn’t always include an easy hot take [47] => market diwsonance doesn’t always include an easy hot take [48] => market disaonance doesn’t always include an easy hot take [49] => market diszonance doesn’t always include an easy hot take [50] => market disxonance doesn’t always include an easy hot take [51] => market disdonance doesn’t always include an easy hot take [52] => market diseonance doesn’t always include an easy hot take [53] => market diswonance doesn’t always include an easy hot take [54] => market dissinance doesn’t always include an easy hot take [55] => market dissknance doesn’t always include an easy hot take [56] => market disslnance doesn’t always include an easy hot take [57] => market disspnance doesn’t always include an easy hot take [58] => market diss0nance doesn’t always include an easy hot take [59] => market diss9nance doesn’t always include an easy hot take [60] => market dissobance doesn’t always include an easy hot take [61] => market dissomance doesn’t always include an easy hot take [62] => market dissojance doesn’t always include an easy hot take [63] => market dissohance doesn’t always include an easy hot take [64] => market dissonznce doesn’t always include an easy hot take [65] => market dissonsnce doesn’t always include an easy hot take [66] => market dissonwnce doesn’t always include an easy hot take [67] => market dissonqnce doesn’t always include an easy hot take [68] => market dissonabce doesn’t always include an easy hot take [69] => market dissonamce doesn’t always include an easy hot take [70] => market dissonajce doesn’t always include an easy hot take [71] => market dissonahce doesn’t always include an easy hot take [72] => market dissonanxe doesn’t always include an easy hot take [73] => market dissonanve doesn’t always include an easy hot take [74] => market dissonanfe doesn’t always include an easy hot take [75] => market dissonande doesn’t always include an easy hot take [76] => market dissonancw doesn’t always include an easy hot take [77] => market dissonancs doesn’t always include an easy hot take [78] => market dissonancd doesn’t always include an easy hot take [79] => market dissonancr doesn’t always include an easy hot take [80] => market dissonanc4 doesn’t always include an easy hot take [81] => market dissonanc3 doesn’t always include an easy hot take [82] => market dissonance soesn’t always include an easy hot take [83] => market dissonance xoesn’t always include an easy hot take [84] => market dissonance coesn’t always include an easy hot take [85] => market dissonance foesn’t always include an easy hot take [86] => market dissonance roesn’t always include an easy hot take [87] => market dissonance eoesn’t always include an easy hot take [88] => market dissonance diesn’t always include an easy hot take [89] => market dissonance dkesn’t always include an easy hot take [90] => market dissonance dlesn’t always include an easy hot take [91] => market dissonance dpesn’t always include an easy hot take [92] => market dissonance d0esn’t always include an easy hot take [93] => market dissonance d9esn’t always include an easy hot take [94] => market dissonance dowsn’t always include an easy hot take [95] => market dissonance dossn’t always include an easy hot take [96] => market dissonance dodsn’t always include an easy hot take [97] => market dissonance dorsn’t always include an easy hot take [98] => market dissonance do4sn’t always include an easy hot take [99] => market dissonance do3sn’t always include an easy hot take [100] => market dissonance doean’t always include an easy hot take [101] => market dissonance doezn’t always include an easy hot take [102] => market dissonance doexn’t always include an easy hot take [103] => market dissonance doedn’t always include an easy hot take [104] => market dissonance doeen’t always include an easy hot take [105] => market dissonance doewn’t always include an easy hot take [106] => market dissonance doesb’t always include an easy hot take [107] => market dissonance doesm’t always include an easy hot take [108] => market dissonance doesj’t always include an easy hot take [109] => market dissonance doesh’t always include an easy hot take [110] => market dissonance doesn’r always include an easy hot take [111] => market dissonance doesn’f always include an easy hot take [112] => market dissonance doesn’g always include an easy hot take [113] => market dissonance doesn’y always include an easy hot take [114] => market dissonance doesn’6 always include an easy hot take [115] => market dissonance doesn’5 always include an easy hot take [116] => market dissonance doesn’t zlways include an easy hot take [117] => market dissonance doesn’t slways include an easy hot take [118] => market dissonance doesn’t wlways include an easy hot take [119] => market dissonance doesn’t qlways include an 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include an easy hot take [135] => market dissonance doesn’t alwahs include an easy hot take [136] => market dissonance doesn’t alwaus include an easy hot take [137] => market dissonance doesn’t alwa7s include an easy hot take [138] => market dissonance doesn’t alwa6s include an easy hot take [139] => market dissonance doesn’t alwaya include an easy hot take [140] => market dissonance doesn’t alwayz include an easy hot take [141] => market dissonance doesn’t alwayx include an easy hot take [142] => market dissonance doesn’t alwayd include an easy hot take [143] => market dissonance doesn’t alwaye include an easy hot take [144] => market dissonance doesn’t alwayw include an easy hot take [145] => market dissonance doesn’t always unclude an easy hot take [146] => market dissonance doesn’t always jnclude an easy hot take [147] => market dissonance doesn’t always knclude an easy hot take [148] => market dissonance doesn’t always onclude an easy hot take [149] => market dissonance doesn’t always 9nclude an easy hot take [150] => market dissonance doesn’t always 8nclude an easy hot take [151] => market dissonance doesn’t always ibclude an easy hot take [152] => market dissonance doesn’t always imclude an easy hot take [153] => market dissonance doesn’t always ijclude an easy hot take [154] => market dissonance doesn’t always ihclude an easy hot take [155] => market dissonance doesn’t always inxlude an easy hot take [156] => market dissonance doesn’t always invlude an easy hot take [157] => market dissonance doesn’t always influde an easy hot take [158] => market dissonance doesn’t always indlude an easy hot take [159] => market dissonance doesn’t always inckude an easy hot take [160] => market dissonance doesn’t always incpude an easy hot take [161] => market dissonance doesn’t always incoude an easy hot take [162] => market dissonance doesn’t always inclyde an easy hot take [163] => market dissonance doesn’t always inclhde an easy hot take [164] => market dissonance 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dissonance doesn’t always includ3 an easy hot take [180] => market dissonance doesn’t always include zn easy hot take [181] => market dissonance doesn’t always include sn easy hot take [182] => market dissonance doesn’t always include wn easy hot take [183] => market dissonance doesn’t always include qn easy hot take [184] => market dissonance doesn’t always include ab easy hot take [185] => market dissonance doesn’t always include am easy hot take [186] => market dissonance doesn’t always include aj easy hot take [187] => market dissonance doesn’t always include ah easy hot take [188] => market dissonance doesn’t always include an wasy hot take [189] => market dissonance doesn’t always include an sasy hot take [190] => market dissonance doesn’t always include an dasy hot take [191] => market dissonance doesn’t always include an rasy hot take [192] => market dissonance doesn’t always include an 4asy hot take [193] => market dissonance doesn’t always include an 3asy hot take [194] => market dissonance doesn’t always include an ezsy hot take [195] => market dissonance doesn’t always include an essy hot take [196] => market dissonance doesn’t always include an ewsy hot take [197] => market dissonance doesn’t always include an eqsy hot take [198] => market dissonance doesn’t always include an eaay hot take [199] => market dissonance doesn’t always include an eazy hot take [200] => market dissonance doesn’t always include an eaxy hot take [201] => market dissonance doesn’t always include an eady hot take [202] => market dissonance doesn’t always include an eaey hot take [203] => market dissonance doesn’t always include an eawy hot take [204] => market dissonance doesn’t always include an east hot take [205] => market dissonance doesn’t always include an easg hot take [206] => market dissonance doesn’t always include an eash hot take [207] => market dissonance doesn’t always include an easu hot take [208] => market dissonance doesn’t always include an eas7 hot take [209] => market dissonance doesn’t always include an eas6 hot take [210] => market dissonance doesn’t always include an easy got take [211] => market dissonance doesn’t always include an easy bot take [212] => market dissonance doesn’t always include an easy not take [213] => market dissonance doesn’t always include an easy jot take [214] => market dissonance doesn’t always include an easy uot take [215] => market dissonance doesn’t always include an easy yot take [216] => market dissonance doesn’t always include an easy hit take [217] => market dissonance doesn’t always include an easy hkt take [218] => market dissonance doesn’t always include an easy hlt take [219] => market dissonance doesn’t always include an easy hpt take [220] => market dissonance doesn’t always include an easy h0t take [221] => market dissonance doesn’t always include an easy h9t take [222] => market dissonance doesn’t always include an easy hor take [223] => market dissonance doesn’t always include an easy hof take [224] => market dissonance doesn’t always include an easy hog take [225] => market dissonance doesn’t always include an easy hoy take [226] => market dissonance doesn’t always include an easy ho6 take [227] => market dissonance doesn’t always include an easy ho5 take [228] => market dissonance doesn’t always include an easy hot rake [229] => market dissonance doesn’t always include an easy hot fake [230] => market dissonance doesn’t always include an easy hot gake [231] => market dissonance doesn’t always include an easy hot yake [232] => market dissonance doesn’t always include an easy hot 6ake [233] => market dissonance doesn’t always include an easy hot 5ake [234] => market dissonance doesn’t always include an easy hot tzke [235] => market dissonance doesn’t always include an easy hot tske [236] => market dissonance doesn’t always include an easy hot twke [237] => market dissonance doesn’t always include an easy hot tqke [238] => market dissonance doesn’t always include an easy hot taje [239] => market dissonance doesn’t always include an easy hot tame [240] => market dissonance doesn’t always include an easy hot tale [241] => market dissonance doesn’t always include an easy hot taoe [242] => market dissonance doesn’t always include an easy hot taie [243] => market dissonance doesn’t always include an easy hot takw [244] => market dissonance doesn’t always include an easy hot taks [245] => market dissonance doesn’t always include an easy hot takd [246] => market dissonance doesn’t always include an easy hot takr [247] => market dissonance doesn’t always include an easy hot tak4 [248] => market dissonance doesn’t always include an easy hot tak3 ) </h1> </body>