Frosty fundraising environment may change early startups’ DNA for the better

There isn’t much hope that 2023’s fundraising environment will be better for startups than last year’s. It seems likely that it will get worse before it gets better — even at the earliest stages, which have largely been insulated thus far.
But for burgeoning companies capable of building business models that reflect current conditions and rely less on venture capital to grow, the frosty environment could wind up being a good thing down the line.
While some sectors need to raise a lot of capital to build a viable business, like space and defense or manufacturing, most don̵

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