Business Media Report That 2023 Was a Bad Year for Tech Startups

We are told that 2023 was an extinction level event for tech startups. In the United States, roughly 3200 private venture-backed companies went out of business last year, in a huge “cash bonfire.” We have likely never heard of most of them because their stories are more conventional than, say, the saga of crypto bad boy Sam Bankman-Fried. As Tech Crunch puts it, The story of most startup failures is far less exciting. The timing isn’t right, funding dries up, runways run out. Of late, a lot of macroeconomic factors have come into play, as well. These past few years have been especially brutal for startup land… Combined, those companies raised north of $27 billion.

mindmatters.ai     Jan 29, 2024