The article provides a summary of the responses from various investors and venture capitalists on the current state of the startup market in 2023. Here is a summary of their key points:
- Valuation ranges are all over the place: Valuations vary widely, especially at the Series A stage.
- Resilience of seed market: Despite the quiet later stages, the seed market has remained surprisingly resilient.
- Proactivity in deal-making: Investors and founders have had to be more proactive in finding deals and structuring investments due to the changing market conditions.
Some specific comments from investors include:
- Mark Grace (M13) mentions that companies need to ask existential questions about AI, such as how to recruit talent, avoid pivots, and tackle challenges that require cross-sector collaboration.
- Howie Diamond (Pure Ventures) notes that companies are raising stealth/insider rounds from legacy investors at the same terms as their prior round six months to a year ago instead of going to market.
- Other comments highlight the need for founders and investors to be more proactive in finding deals and structuring investments due to the changing market conditions.
Overall, the responses suggest that the startup market in 2023 is characterized by significant changes, challenges, and opportunities.
