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“One area that is thriving? Companies in the business of failure.”
We talked earlier this year about what the change in the interest rate environment meant for VC-funded tech companies. Now The New York Times is taking stock of the carnage:
Carta, a company that provides financial services for many Silicon Valley start-ups, said 87 of the start-ups on its platform that raised at least $10 million had shut down this year as of October, twice the number for all of 2022.
From Unicorns to Zombies: Tech Start-Ups Run Out of Time and Money
[The New York Times]
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