Most founders don’t realize they’re on the wrong path until it’s too late.
That’s because failure is something that many entrepreneurs know only in hindsight: the daily work of building a startup requires a high level of trust – and for some, denial.
To quote the movie “Grosse Pointe Blank,” perhaps this column by Haje Jan Kamps will be “a swift, spiritual kick in the head that will change your reality forever.”
Full TechCrunch+ articles are available to members only
Use the discount code TCP PLUS ROUNDUP to save 20% off a one or two year subscription
In his experience, there are three reasons why some startups never get a thumbs-up from an investor:
- the market is too small;
- the team is not good;
- the plan makes no sense.
These are all big problems, but here’s the good news: they’re only existential issues for ego-driven advocates. People who accept that they don’t have all the answers are able to pivot to success.
On the other hand, those who look in the mirror and see Captain America smiling back tend to make poor CEOs.
Have an amazing weekend – touch some grass.
Walter Thompson
Editorial Manager, TechCrunch+
@your protagonist
With $10T on the line, 6 fusion investors explain why they’re all in
Image Credits: Bryce Durbin / TechCrunch
As of December 2022, none have reached fusion ignition, the point at which the reaction produces more energy than is necessary to do so.
“There is still a long way to go, but net-positive controlled fusion is no longer just theoretical,” writes Tim De Chant.
To get an investor’s perspective on this new technology with a multi-trillion-dollar TAM, he spoke to:
- Katie Rae, CEO and managing partner, The Engine
- Phil Larochelle, partner, Breakthrough Energy Ventures
- Joshua Posamentier, managing partner, Congruent Ventures
- Alice Brooks, principal, Khosla Ventures
- Wal Van Lierop, founding partner, Chrysalix Venture Capital, and board member, General Fusion
- Thai Nguyen, partner, MCJ Collective
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, and click “subscribe.”
Click here to subscribe
Upgrade AI-powered travel products to first class
Image Credits: Westend61 (opens in a new window) / Getty Images
When it comes to integrating AI into travel, “even a small lead matters today,” according to Eric Crowley and Adam Segall of global investment bank GP Bullhound.
Today’s consumers can create their own itineraries, but it still takes some guesswork:
Can I walk to the beach from my hotel with a surfboard? Which restaurants near this conference center have vegan options?
In this TC+ post, Crowley and Segall share advice for founders working on AI-powered travel products: “At this early stage, our company and other investors in the space we’re working with there is no expectation of perfection.”
Why Europe and Israel’s unicorns are creating the next generation of tech founders
Image Credits: Cerro photography (opens in a new window) / Getty Images
According to a report from global venture firm Accel, a “flywheel of inter-generational talent spawning from unicorns” is helping Europe and Israel maintain momentum even as deal flow and funding have slowed in whole world.
“Our data reveals that 221 of the 353 VC-backed unicorns in the region have inspired 1171 new technology-powered startups through their alumni,” wrote Harry Nelis, a partner at the firm. based in London.
Hot public markets are boosting the secondary market for startup shares
Image Credits: donnell shoes / Getty Images
Subsequent investments may be harder to come by, but Alex Wilhelm reports that “the combination of seller pessimism and moderate buyer optimism” is driving an “increase in secondary market activity.”
Interpreting data from Caplight, Forge, Other Information and PitchBook, he concluded that the development could signal a potential increase in startup valuations.
“It’s becoming clearer how much pain startups have to endure to raise more capital, but it’s anyone’s guess if they’re willing to accept that fact.”
Ask Sophie: Do I need 2 visas to work for 2 different startups?
Image Credits: Bryce Durbin/TechCrunch
Dear Sophie,
I am in the US on an H-1B visa, but I want to quit my current job and pursue some startup ideas: One with some friends, and the other with myself.
Do I need to get two separate visas to work for two companies at the same time? Can I transfer my H-1B to one or both companies?
– Strong Entrepreneur
There is a growing desire in the UK for more Black specialty venture funds
Row of white pencils and a black pencil, located on a white background
Black founders based in the United Kingdom have a harder time than their US-based counterparts when it comes to accessing venture capital, reports Dominic-Madori Davis.
“Between 2009 and 2019 in the UK, only 30 Black people received VC funding, which equates to less than 0.4% of all funding allocated to founders.”
He interviewed several investors working to expand this community, including Karl Lokko, co-founder of venture firm Black Seed, which recently announced £5M of inaugural funding.
“The wheels are starting to turn, but we have a long road ahead,” he said.
