【海外ITニュース速報】ベンチャーキャピタルはもうすぐ亡霊で溢れかえる – TechCrunch

【海外ITニュース速報】ベンチャーキャピタルはもうすぐ亡霊で溢れかえる – TechCrunch

Venture capital will soon be brimming with ghosts – TechCrunch

ベンチャーキャピタルはもうすぐ亡霊で溢れかえる – TechCrunch


General Catalyst’s Niko Bonatsos has said that new venture firms will either decide to merge with each other to “build a more enduring franchise.” Initialized Capital’s co-founder Garry Tan is leaving the firm to join Y Combinator as President, while others will lose senior partners to retirement. Backstage Capital cut the majority of staff four months ago, impacting nine of the 12-person team. Notably, Backstage Capital is struggling internally due to lack of dry powder powder


CatalystのNiko Bonatsosは、新しいベンチャー企業が「より永続的なフランチャイズを構築する」ために互いに合併することを決定すると述べています。初期化されたCapitalの共同設立者であるGarry Tanは、社長としてYコンビネーターに参加するために会社を去り、他の人は上級パートナーを退職させます。バックステージキャピタルは4か月前にスタッフの大半を削減し、12人のチームのうち9人に影響を与えました。特に、舞台裏の首都は乾燥粉末の不足のために内部的に苦労しています


“There’s more dry powder powder than ever before.” “There’s never been a better time to start a startup.” “Discipline is the new scale.” (OK, OK, I made that last one up, but didn’t you kind of believe it?).


The tech industry loves generalizations — and don’t worry, I enjoy my fair share too — but as the downturn continues to play out, it’s increasingly important to think about the structural changes that may be forming in the venture capital landscape. Venture firms, unlike unicorns, often don’t have hundreds of employees to cut. Instead, venture firms cut costs in quieter ways.

テクノロジー業界は一般化を愛しています – 心配しないでください、私は私の公平なシェアを楽しんでいます – しかし、景気後退が展開し続けるにつれて、ベンチャーキャピタルの景観に形成されている可能性のある構造的変化について考えることがますます重要になっています。ユニコーンとは異なり、ベンチャー企業は何百人もの従業員が削減されていないことがよくあります。代わりに、ベンチャー企業はより静かな方法でコストを削減します。

At TechCrunch Disrupt last week, General Catalyst’s Niko Bonatsos said that venture firms have to go through natural selection cycles and that it will be “survival of the fittest.” “It’s a very painful activity for anyone who has gone through that stuff,” Bonatsos said on stage with Coatue’s Caryn Marooney. He talked about how the hundreds of new VC firms will either decide to merge with each other to “build a more enduring franchise,” saying some will leave the VC profession and others will lose senior partners to retirement and have tp figure out what the future of their firms will look like.

先週のTechCrunchの混乱では、CatalystのNiko Bonatsos将軍は、ベンチャー企業は自然選択サイクルを経なければならず、「適者の生存」になると述べました。「それはそのようなことを経験した人にとっては非常に苦痛な活動です」とボナツソスは、コートのキャリン・マロニーと一緒にステージで語った。彼は、何百もの新しいVC企業が「より永続的なフランチャイズを構築する」ために互いに合併することを決定する方法について話しました。彼らの会社のように見えるでしょう。

Tracking personnel activity in venture land offers a few examples. For example, Initialized Capital’s co-founder Garry Tan is leaving the firm to join Y Combinator as president. Tan’s exit is shaking up the firm he helped found. He held down the fort after the firm’s other co-founder, Reddit’s Alexis Ohanian, stepped away in 2020.

ベンチャーランドでの人員活動の追跡には、いくつかの例があります。たとえば、初期化されたCapitalの共同設立者であるGarry Tanは、社長としてYコンビネーターに参加するために会社を去ります。タンの出口は、彼が見つけたのを手伝った会社を揺さぶっています。彼は、同社の他の共同設立者であるRedditのAlexis Ohanianが2020年に足を踏み入れた後、砦を抑えました。

Another team that has had its fair share of internal changes over the pandemic is Backstage Capital. The firm cut the majority of staff four months ago, impacting nine of the 12-person team. The layoff comes nearly three months after Backstage Capital narrowed its investment strategy to only participate in follow-on rounds of existing portfolios. This workforce reduction further underscores that the venture capital firm is struggling to grow, both externally due to its lack of dry powder and internally.


Marooney, a GP at Coatue, says that firms “have to earn the right” to survive. “There was the path where you did some investments and made money. It’s like, no, you’ve got to earn the right and not everybody is going to earn that right … and I think that is healthy,” the investor said.


I’ll end with a term we’ve been dancing around all through the intro, which is “quiet quitting.” Bloomberg Beta investor Roy E. Bahat posted a thread describing how seasoned venture capitalists may be quietly going into “easy mode,” aka, becoming a less active, minimum viable player of the team. Maybe their name helps the firm close new funds with LPs, and maybe their calendar doesn’t need to be busy with a ton of introduction calls, just annual investor meetings.


If we combine quiet quitting with natural selection cycles and the difficulty of tracking just how active a venture capitalist is, we experience a confusing, fragmented landscape. No one is incentivized to say that they aren’t doing business as usual, which creates a landscape of extremes.


Sure, there are natural career cycles, but I imagine it is getting harder to track who is doing what and how often in a remote world where a partner at a VC firm has been diluted to mean many, many things. Today, there are the investors doing the ghosting due to the sheer deal flow out there, and there are the investors who are becoming ghosts themselves. Ha.


Just something to keep in mind. In the rest of this newsletter, we’ll talk about Clubhouse, the latest in tech layoffs and why $1 billion in capital can’t save AV tech.

心に留めておくべき何か。このニュースレターの残りの部分では、Clubhouse、最新のハイテクレイオフ、および10億ドルのCapitalがAV Techを節約できない理由について説明します。

If you like this newsletter, do me a quick favor? Forward it to a friend, share it on Twitter, and follow my personal blog for more content.


One of my favorite interviews from TechCrunch Disrupt last week was with Clubhouse CEO and co-founder Paul Davison. We jumped on the TC+ stage to talk about competition and, of course, what happens when the beginning of your company is defined by hype and celebrities.  Here’s why it’s important: Davison addressed his competition, namely Twitter Spaces, and how Clubhouse views its differentiation long term. As you’ll read in the piece, he’s bullish on a more private version of social audio — a space he thinks will only be won by an app solely committed to the medium instead of committed to a suite of different services.

先週のTechCrunchの私のお気に入りのインタビューの1つは、ClubhouseのCEO兼共同設立者のPaul Davisonとのインタビューでした。私たちはTC+ステージに飛び乗って競争について話しました。もちろん、あなたの会社の始まりが誇大広告と有名人によって定義されているときに何が起こるかを話しました。それが重要な理由は次のとおりです。Davisonは彼の競争、すなわちTwitterスペースと、クラブハウスがその差別化を長期的に見ている方法に取り組みました。あなたがこの作品で読むように、彼はソーシャルオーディオのよりプライベートバージョンのよりプライベートバージョンで強気です。彼は、さまざまなサービススイートにコミットするのではなく、メディアにのみコミットするアプリによってのみ獲得されると思うスペースです。

Over 780 companies cut a portion of their staff this year according to data tracker layoffs.fyi. The workforce reductions have impacted at least 92,558 known people. The real figure is likely higher given reporting delays.


Here’s why it’s important: The same data source suggests that the tide is somewhat shifting on the cadence of tech layoffs. Nearly 70% of people who have been laid off this year lost their jobs during May, June, July and August.


Since the summertime of sadness, staff cuts have decreased. September had half the number of layoff events than August, and in October, new layoff events slowed while people impacted slightly inched upward from August. Read more about how the tide is shifting in my latest for TechCrunch.


Transportation editor and one of my favorites Kirsten Korosec broke major news this week: Argo AI, backed by Ford and Volkswagen, is shutting down. The autonomous vehicle startup raised $1 billion after launching in 2017.

Transportation Editorと私のお気に入りの1つであるKirsten Korosecは今週、メジャーニュースを破りました。フォードとフォルクスワーゲンに支援されたArgo AIが閉鎖されています。自動運転車のスタートアップは、2017年に発売された後、10億ドルを調達しました。

Here’s why it’s important via Korosec: Commercializing AV tech has always been a capitally intensive game, meaning the barrier to entry is more like a wall than a speed bump. The winds have shifted over the past two years toward driver assistance systems and monetizing passenger vehicles that exist today.


Image Credits: Argo AI Seen on TechCrunch Duolingo’s owl will now shout fractions at you Meta is in trouble Twitter’s Elon problem could soon become Apple’s Elon problem, too Thoma Bravo, Sunstone Partners to acquire UserTesting for $1.3B and combine it with UserZoom Seen on TechCrunch+ The UserTesting sale to private equity is bad news for unicorns How to raise funds when you aren’t in the Bay Area Dear Sophie: How can early-stage startups improve their chances of getting H-1Bs?

画像クレジット:TechCrunch Duolingoのフクロウで見られるArgo AIは、あなたのメタで叫び声を上げます。プライベートエクイティへのUSERTESTING SALEは、ユニコーンにとって悪いニュースです。ベイエリアにいないときに資金を調達する方法

Big Tech falls short in the first salvos of the Q3 earnings cycle The lack of VC funding to women is a Western societal shortfall Same time, same web page, next week?


N Image Credits: Bryce Durbin / TechCrunch More TechCrunch

n画像クレジット:Bryce Durbin / TechCrunch More TechCrunch


Venture capital will soon be brimming with ghosts