Startups weather a dismal year – 543 have declared bankruptcy or shut down

Saying "this is the highest number ever reported" is like when presidents brag about receiving the most votes in history - the population is just bigger!

“Honestly, I don’t even know what we’re building or who will use it,” he admitted.

People love to talk about the successes and use that to justify the VC startup model, but I suspect many if not most are like this - a pretend company based on a buzzword with no real customers or viable business model.

[1] https://www.commerceinstitute.com/new-businesses-started-eve...

Silicon Valley "innovation" is "run for years losing millions or even billions of dollars every year without as much as a plan to become profitable".

Maybe now companies will start creating actual sustainable businesses?

Founders today are conserving cash. Gone are the days of raise money, build a big team, and grow grow grow. Now it's all about doing more with less, with slow and steady growth.

I have feeling that economy (or maybe just spending?) has contracted by approximately 10%, coupled with an additional 10% inflation rate.

So a typical small business in the technology sector might experience a reduction in revenue of about 10%, while simultaneously facing a 10% increase in operating costs.