Hi all!
The big thing this week, based on what people were reading most, were the details of a memo sent from Y Combinator to its portfolio founders.
As the markets continue to slide,YC is telling its portfolio founders that it’s time to batten down the hatches — cut costs, extend runway and get to a “default alive” state. “For those of you who have started your company within the last 5 years,” YC writes, “question what you believe to be the normal fundraising environment.”
Besides more bad news about the markets, what else was going on?
