EP 2: What The Market Downturn Means For Founders, VCs, And Web3


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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