This chart tells an important story for early-stage founders. Only 10% of startups that raised a Series A in 2022 have raised a Series B two years later. That drop of nearly 2/3 from 2018 represents a brutal cliff for founders.
In the coming wave of AI-related disruption, we can enable entrepreneurship and unleash the job-creating forces behind it. We need to learn from the past to set the right policies for the future.
The Scooter company Bird filed for bankruptcy yesterday. Another high-flying unicorn falls to earth. This is an important reminder that you can’t believe the hype in the startup press.