Sunday read: State of The VC Fall 2023 by Sam Lessin
This is a beautiful piece by Sam Lessin (lessin on X) on how the industry and market are looking right now. It is a long read but totally worth it. I made some notes on the original deck.
TLDR:
* Seems like there is no more room for 10B companies
* Startup factories are loosing the momentum
* No, AI won’t save the day, this is just another popular narrative
* Not everything which has “VC” in its name has anything to do with Venture Capital
* Crypto might pull it off as a market, generating some disruption and 100B evaluations
* Building business is still about talent and effort, so makers are still good 😌
I personally did enjoy it because it corresponds a lot to my views of the economics and current market conditions. And I think that as the time of startup factories might be coming to an end ([1]), it might be a good time for startup boutiques having more adaptive and custom approach.
1. https://how.complexsystems.fail/
P.S. Discovered this deck with the help of my friend Alexey, so sharing his X account: darkolorin.
#VC #longread
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