New York, Dusseldorf The warning of a “death spiral” comes from one of the best-known investment companies in the world: the US venture capitalist Sequoia draws the scenario of a “survival of the quickest”. In a letter to the portfolio companies last week, it is said that only those companies will survive the coming months that get their costs under control the fastest.
This is a shock for the start-ups trimmed for growth. Investors had just pumped in money faster than the founders could hire employees and open locations. Now they should pull the emergency brake.
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