All startups need to grow, but as markets shrink, resource conservation becomes a more important short-term priority.
Cryptocurrency exchange Coinbase made headlines this morning after it was revealed it was canceling outstanding job offers from some candidates.
We reported yesterday that IRL, the social app, is laying off 25% of its staff a year after it raised $170 million Series A, even though it has enough money to run for another two years.
I don’t have any idea about the financial performance of IRL or Coinbase, but I can say with confidence that it will be harder for these companies to hire talented employees now.
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Technology is unlike other industries: workers can explore unique personal interests while earning a share of the capital in a potential unicorn.
But they also have options. If you deceived someone after a verbal job offer, this will be taken into account by future candidates. People says!
At this point, most tech workers are probably wondering when layoffs are coming in their company. To build trust and keep employees engaged, managers must optimize existing engineering resourcessays Ammar Bandukwala, co-founder and CEO of Coder.
“High-performing IT teams that could deploy and release code faster than their peers experienced 60 times fewer outages and recovered from them 168 times faster,” he writes in TechCrunch+.
If you manage a software development team, I hope you read and share.
Have a great weekend,
Senior Editor at TechCrunch+
How to Improve Retention, Growth Marketing’s Golden Score
After helping someone prepare dinner, I was stunned when I was told that the broccoli stalks I had just tossed into the compost were great for making vegetable broth, topping pizza, or adding to stir-fry.
Jonathan Martinez’s latest TC+ article on growth marketing reminded me of this, as many companies are throwing out perfectly valid data that can boost retention and conversions.
“It is necessary to constantly analyze the sources that stimulate growth at a detailed level and at the level of the bottom of the funnel,” he writes.
8 IT spending trends for businesses post-pandemic in 2022
Research firm ETR reached out to 1,200 IT leaders who control an annual total IT budget of around $570 billion to learn more about their planned spending for the coming year.
While spending is projected to grow just 6.7% year-on-year, “the need for experienced IT staff has risen, and the demand for hiring in this area has reached the highest level we have ever seen,” writes Eric Bradley. Chief Analyst at ETR.
What links the stock market downturn to startup valuation?
No gloomy remarks: Tech layoffs are on the rise, investors are urging their portfolio companies to hunker down, and founders are doing everything but incantations to slow burnout rates.
“But have the ratings really dropped?” asks Daniel Faloppa, founder of Equidam.
“For all startups? If so, why and what should we expect in the short and medium term?”
Proportionate share is easier than ever to get, but investors will think twice
“There is always a whiff of drama when it comes to proportional rights,” writes Rebecca Schutak in her first TechCrunch+ article.
Early investors have reserved the right to keep their stakes in startups raising additional capital, but with a slowdown in venture capital funding, it’s unclear if they’ll be willing to do so.
“It’s getting easier for us to get apportioned and get it all at once,” said Eric Bahn, co-founder and general partner of Hustle Fund.
Pitch Deck Teardown: $3 Million Encore Starter Deck
Cloud-based software development platform Encore has shared the presentation its founders used to raise a $3 million seed round with TechCrunch+.
Using 24 slides, the deck identifies four fundamental problems in modern software development that Encore seeks to address by using non-technical language to explain its value proposition in detail.
“There’s a lot to love about the Encore deck: it simplifies a complex product story into a few easy-to-digest slides and shows why there are opportunities in the market,” writes Haye Jan Kamps.
This is the beginning of an era of unrelated databases.
As customers have moved online over the past couple of years, businesses have seen the benefits of storing as much customer data as possible to improve their products and services.
However, old-school relational databases running on server farms will not be able to meet performance requirements for long. As enterprises move more and more operations to the cloud, their databases are also evolving, writes Ethan Batrasky, partner at Venrock.
“A new category of cloud database companies is emerging that effectively decomposes the traditional monolithic database stack into core multi-tiered services—storage, compute, optimization, query scheduling, indexing, functions, and more.”
Dear Sophie! How can we meet each of the O-1A criteria?
Our startup will sponsor me and my co-founders for an O-1A visa.
How can we meet each of the O-1A criteria?
– Prominent Entrepreneur
Crypto Venture Funding Drops in May, But Many Investors Remain Optimistic
Many activists are calling this the start of “crypto winter,” but even as investment slowed down in May, optimistic investors are still bringing their floating funds and diving into the pool like it’s summer.
The amount of capital invested in crypto has declined in the short term but is still significantly higher than a year ago, with investments in space up 89% last month to $4.22 billion from $2.23 billion in May 2021, reports Jacqueline Melinek.
“For investors like us, it’s time to buy,” said Jacqueline Stan Miroshnik, partner and co-founder of 10T Holdings. “Evaluations have come in and great companies are now available at a more reasonable price.”
Credit: techcrunch.com /