The piece also covers the trial of Sam Bankman-Fried, former CEO of crypto company FTX, who is charged with fraud and conspiracy. It discusses the success of Gigasheet's second AI feature and the importance of data in social impact investing. Lastly, it reports on a survey from Battery Ventures, which found that enterprise software buyers are not as budget-conscious as before, with AI-related software tools faring better than non-AI products.
Key takeaways:
- Follow-on financing has become more difficult to secure, with investors now seeking startups that demonstrate product-market fit and hard numbers trending towards profitability.
- Startups are advised to focus on their data room rather than storytelling when fundraising.
- Scaling startups should consider all savings options, including negotiating with vendors or buying short-dated Treasuries.
- Former CEO of crypto company FTX, Sam Bankman-Fried, is on trial in NYC for fraud and conspiracy, with potential implications for the crypto industry.