A small “climate tech” startup with constant churn and turnover. That’s in quotes because they sell to oil companies but don’t make them any better for the climate. We haven’t hit revenue goals in years, pretty sure we burned through all our Series B money. People have been leaving in droves for months. The CEO and the head of our People team run this place without any prior experience or general competence and they are running it into the ground. TC: $180k (stock is worthless)
Lot of startups that are not profitable especially ones losing as much their revenue will likely go out of business this year. VC funding is drying up and good luck getting $$ from banks after SVB.
I work in tech M&A and my firm is seeing 2008-09 levels of frantic sellers looking for an exit.
Yea interesting how VCs never saw this coming while stock market already corrected for spac ipo stocks last year.
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