If I received a note from an investor stating, “although somber, this data is not meant to alarm you,” well, I might be alarmed.
But that quote from Reach Capital represents a slew of memos sent in recent days by venture firms to portfolio companies offering advice and asking questions about how founders are positioned for a downturn.
Natasha Mascarenhas obtained emails from Y Combinator, Lightspeed, Reach and January Ventures that contained standard suggestions for conserving runway and rethinking valuations in “an extremely capital constrained environment.”
In short:
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