Unemployment rate has increased from 3.5% in July to 3.9% in October.
Conversations with about a dozen VCs agree that most of the pain is still to come.
In short, I think we’re starting to see the beginning of what I predicted as a potential outcome in this article. We’ll see how things unfold over the next two to three quarters, but I am still of the opinion we’ll continue to see the unemployment rate increase at a rapid pace and tech will be a significant contributing factor.
Quick Updates:
This article talks about the ramping up of the “startup extinction event”. https://www.businessinsider.com/late-stage-startups-vc-lack-funding-forced-shut-down-2023-10
Unemployment rate has increased from 3.5% in July to 3.9% in October.
Conversations with about a dozen VCs agree that most of the pain is still to come.
In short, I think we’re starting to see the beginning of what I predicted as a potential outcome in this article. We’ll see how things unfold over the next two to three quarters, but I am still of the opinion we’ll continue to see the unemployment rate increase at a rapid pace and tech will be a significant contributing factor.