I’ve been fired by more startups than anyone I know. Yeah, that’s a weird thing to brag about.
Last month, nearly 100,000 tech workers lost their jobs, and it felt like a major disruption to the Force. These are real people struggling with real insecurity: should they move? How long will their savings last? Should they risk a new runway or perhaps launch their own?
Even as public companies and unicorns reduce headcount, many early-stage startups are still actively recruiting. Mary Ann Azevedo summarized several fintechs on the hunt for new talent.
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Ron Miller interviewed analysts, CIOs and hiring managers, who confirmed that there is a high demand for IT workers. The twist?
“The people laid off by Big Tech may not go to other tech companies,” Ron reported, noting that employers such as the IRS, Citi and Liberty Mutual have posted thousands of new job openings.
“The perception is that there are a lot of layoffs,” said Nicholas Marshall, sales enablement director at ManpowerGroup.
“But what we’re seeing is that those tech companies have been over-hiring in the last two years, and it’s more of a correction and a leveling off, but there’s still strong demand and employment prospects.”
If you’re laid off, make self-care your top priority. Seek support from your friends and family and above all don’t take it personally. You get swept up in macroeconomic trends that have nothing to do with your ability, talent or value.
Thank you very much for reading,
Walter Thompson
Editorial Manager, businesskinda.com+
@your protagonist
Contents
So that founder you supported turned out to be problematic. What now?
Image Credits: retro rocket (Opens in a new window) /Getty Images
Early-stage investors do not properly manage the entrepreneurs they shower with money, even when things go off the rails. And in some cases, they may not be able to exercise much authority.
Assuming a VC makes an investment through a SAFE note, “if that stake hasn’t turned into equity, they don’t have much to say if something goes wrong,” reports Rebecca Szkutak.
To learn more about how investors deal with troubled CEOs, she spoke to:
- Cameron Newton, Founder and General Partner, Relevance Ventures
- Eric Bahn, co-founder and general partner, Hustle Fund
- Angela Lee, venture partner, professor, Columbia Business School
Pitch Deck Teardown: Incymo AI’s $850K seed deck for gaming monetization
Image Credits: Incymo (Opens in a new window)
The advertising in free mobile games is a billion-dollar industry, which is why Incymo.ai wants to help advertisers optimize ROAS and LTV using its proprietary AI products.
The founders of Incymo raised an $850,000 seed round and shared all 12 slides with Haje Jan Kamps:
- Cover slide
- Problem slide
- Solution slide
- Traction slide
- Customers slide
- Business model slide
- Market size slide
- Market trajectory slide
- Slide targets/targets
- Team slide
- “The Question” slide
- Road map slide
Dear Sophie, am I eligible for an E-1 trader visa?
Image Credits: Bryce Durbin/businesskinda.com
Dear Sophia,
Am I eligible for an E-1 trader visa? I am from New Zealand and own a B2B SaaS company with many clients in the US
We have a Delaware C company that has raised funds, and I work at the Auckland subsidiary where all of our employees are located. We currently do not have an office in the US, but we pay our taxes there.
— Sharp Kiwi
5 red flags for buyers to watch out for during the M&A process
Image Credits: DBenitostock (Opens in a new window) /Getty Images
It’s tempting to think of M&A as a way for founders to make money, but acquisitions generally require teams to stay on board while the new owner integrates their company into their operations.
This can be a tough time, according to serial entrepreneur Marina Martianova, who says founders are often at odds with new owners when it comes to growth, product priorities and communication.
“Buyers who can’t give you a transparent picture of your company’s future post-acquisition probably don’t have your best interests at heart,” she writes.
Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.