No one said a crisis would impact our tech ecosystem fairly, equally, or even negatively… OK… Travel, leisure, retail, advertising & production are hit hard; rippling through entire supply chains and hurting some of you as technology providers. But some sectors are surfing the first wave: online education (Squla), streaming workouts (Peleton), remote exams (Proctor Exam), just to name a few.
Amazon since lockdown created more value than the current value of ASML, Unilever, Shell, Heineken, Adyen, Philips, Ahold, and ING combined. Jeff Bezos, my man, you are a total gangster!
However, the largest and most interesting startups are in the third category: the cautious ones. These are throttling their growth, as they don’t know yet whether they’ll be surfing a wave, or whether their adversity is still to come.
Maybe this helps in providing some clarity:
The quote above is from Scott Galloway, professor at NYU Stern. He predicted the acquisition of Whole Foods by Amazon, a mere month before it happened. And he pointed out that emperor Neumann wasn’t wearing any clothes, initiating or at least expediting the demise of WeWork. What you’re probably thinking right now is true: I’m a total fanboy.
Founders & VC’s COVID-19 Sentiment Survey
At LevelUp, it’s our mission to enable growth for the tech ecosystem. I believe we can do that best by providing clarity on the variety of economic outlooks. Time is short, so we’ve visualized SFX’s comprehensive survey for you.
They researched sentiments amongst a large international group of tech founders and VC’s. We were able to compare results to earlier and other studies to see how different opinions develop. You’ll find those remarks in the infographic below as well.
Have a look where you might fit on the response spectrum and see how it might be different from other founders or VC’s. This might lead to better business decisions and stronger, more sustainable growth for your venture.
Although hopes of a swift V-shaped economic recovery are gone, it’s not as bad as most of us feared. As well, access to talent and capital are strong and we are seeing many companies executing on renewed business plans, and capturing opportunities.
Read more about the startup and scaleup ecosystem on this article about unemployment and measures taken during COVID-19 crisis.
Cover photo by Stories by Freepik