Late-stage startups are getting the hang of spending less

Back when Silicon Valley Bank was still pitching a package of financial moves to its customers, it noted in a presentation to its own investors that “elevated client cash burn” was “pressuring [its] balance of fund flows.”
The previously central bank to Silicon Valley told the stock market that while it had anticipated a “modest, progressive” decline in startup cash consumption as venture dollars slowed, burn had “not moderated” in the first quarter of 2023. This hurt its deposit base, which in turn was a precipitating factor in the run that late

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