Remote work startups were a hot commodity during the pandemic, but many investors and founders are rethinking their enthusiasm in the post-vaccine era, Rebecca Szkutak reports.
“If I look at all the companies that are actually classified as remote work, you see the tip of the iceberg,” said Kevin Spain, general partner at Emergence Capital. Other companies are effectively following this trend and benefiting from it.”
Full TechCrunch+ articles for members only
use discount code Overview of TCPLUS Save 20% on a one-year or two-year subscription
Some companies working on hybrid workplace solutions “have exited the category,” others have reduced staff, and “a virtual office startup recently sold its intellectual property and pivoted to artificial intelligence,” Rebecca writes.
“Exact numbers are hard to pin down,” Rebecca wrote, “but there are signs that things are not going well for many remote work startups.”
Thanks so much for reading TC+ this week!
TechCrunch+ Editorial Manager
@your leading role
Trying to close a Series B round in 2023? Read this first.
In the second half of 2022, Series B investment fell 60% year-on-year, but job marketplace hackajob started raising a $25 million round late last year and closed four months ago.
CEO Mark Chaffey shared a post with TC+ outlining his company’s plans to lure skeptical investors and build a “killer data room” for the right venture capital .
“From then on, it was all about execution,” he wrote.
Deep tech set to skyrocket in Latin America and the Caribbean
Deep tech founders who are considering starting a business in Latin America and the Caribbean (LAC) have a lot to look forward to, according to a study published by the Inter-American Development Bank.
“The report concludes that there is scope for a 20-fold increase in venture capital investment in deep tech startups in Latin America and the Caribbean over the next decade,” writes Anna Heim in TC+.
Ask Sophie: What do I need to know about obtaining a J-1 exchange visa?
I just learned that I have been selected as an intern for the J-1 exchange program.
I am currently in the US on a B-1/B-2 visitor visa. The sponsoring company wants me to start work in August. I’ve heard it may take several months to change my status to J-1. Is there a way to get J-1 faster?
Is there anything I should know about the J-1, especially if I later decide to stay in the US after the J-1 program ends?
— Technical Intern
Get the TechCrunch+ Roundup newsletter in your inbox!
To receive the TechCrunch+ Roundup by email every Tuesday and Friday, scroll down to find the Sign Up for Newsletter section on this page, select TechCrunch+ Roundup, enter your email address, and click Subscribe “.
Click here to subscribe
Should you move to a new state to save taxes before selling your startup?
Once acquisitions begin, founders naturally start protecting their newfound wealth.
Peyton Carr, managing director of Keystone Global Partners, wrote: “For a $30 million exit, founders could save about $4.3 million by moving from California to Florida, and moving from New York City to Florida would Savings of approximately $4.4 million.”
“It’s a big incentive to take the risk of going to Miami,” but unless you follow state-level guidelines on where you spend your time and generate income, “your move could trigger an audit.”
Crypto Funding Falls for Fifth Straight Quarter as Investors Continue Withdrawals
The price of the Bored Ape Yacht Club NFT has fallen to a two-year low, and Binance, the world’s largest cryptocurrency exchange, is losing market share amid heavy criticism from the US Securities and Exchange Commission.
382 blockchain and crypto startups received $2.34B in funding in Q2 2023, reports Jacquelyn Melinek, who spoke to several investors about how they adjusted their expectations.
Lasse Clausen, founding partner of 1kx, said: “Tiger Globals and Softbanks around the world will no longer invest in everything.”
Yes, the investor will sign a non-disclosure agreement, but only in this specific case
If I were a tech investor, I wouldn’t be able to sign a non-disclosure agreement.
Presumably, I meet with hundreds of founders every year. Signing an NDA might prevent me from doing another deal with someone else working in a similar field: why would I agree to this?
Haje Jan Kamps argues that entrepreneurs should only require non-disclosure agreements when “disclosing your technical details to anyone outside the company.”
What is it like to be a black founder in France?
“Someone said to me, ‘Oh, well, good, interesting. Thanks. Goodbye.’ We were talking.”
“We were not taken seriously.”
“You can’t be their equal.”
Dominique-Madori Davis interviewed several black founders in France to learn more about how they overcame racism and cultural stereotypes to have the same opportunities as their white counterparts.
“We’re missing the success stories that inspire a new generation of entrepreneurs,” says Rodolphe-Emmanuel Hospice, founder of healthcare company Clikodoc.
“There are no real stories of black founders in France.”