Yes, reading the tech press in the last week has been pretty brutal. And yes, you and your startup may still be rattled by the Silicon Valley Bank crisis or worried about what’s going on at First Republic. Hell, you could still be working to secure your funds somewhere new.
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The cliche about rain quantity during downpours exists because bad news tends to pile up when it arrives. That SVB imploded while startups were already struggling in the face of a sharply more conservative fundraising environment, a completely denuded IPO forecast and antitrust making M&A a tough sell is therefore not surprising, even if a financial crisis felt like an unfair piling on.
But the news is not all bad. Amid the chaos, there are rays of good news. They include surprisingly good results from a pair of software companies’ earnings reports and a bounce off recent lows for software valuations.
Bummed out from the last week? Here’s some bullish news for software companies by Alex Wilhelm originally published on TechCrunch
https://techcrunch.com/2023/03/16/svb-uipath-pagerduty-saas/
