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Who cares?

Your deepest motivation should be to build something amazing that people want to use, to create a great business, to have fun, to go on a great adventure.

If stock market performance plays a major role in your decision to start a business or raise capital then perhaps your motivations might need a rethink.

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VCs care. The way they make decisions has changed wildly in different ways multiple times within just the last 5 years.

There’s a very good argument to be made that they shouldn’t care and that their investment theses should be more stable as well as their criteria, but that’s an academic argument that doesn’t do a whole lot for the founders who have been attempting to fundraise amid those varied VC spasms.

It doesn’t in mine, but it does in the VC’s who are investing in YC startups - making them and their LPs a lot less patient due to increased cost of capital for the whole industry.

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