u/MundaneValuable7 wrote (the comment Michael replied to):
This shows 2023 being better than anytime from 2020 or before, so I'm not sure this is a good metric for the number of startup jobs, which is what matters.
The article also mentions the recent number isn't entirely accurate as the volume of deals in the last month has been low s
u/michaelnovatireplied·
This. Huge AI deals ske butw data. Most of my friends that did startups shut them down and acqi-hired by big tech, like Whisper (Meta), Thread (Shopify), Primer (Shopify), Rockset (OpenAI).
VC money wants to go to AI but AI is being funded by big tech by paying people over $1M a year to work on it.
Rough time for startups indeed unless you worked at Google on AI for 10 years and want to do an AI startup.
u/frenchydev1 wrote (the comment Michael replied to):
Most of my friends that are doing startups are doing pretty well, different crowd :) I hope they are doing better afterwards
u/michaelnovatireplied·
Startup founders always say they are doing well.
It's relative. My friend started Tome for example. Tome isn't doing well despite being hot. Vanta, not doing well.
By definition 90% of seed companies fail, so if most of your friends are doing well, they are lying or it's an anomaly and you should go on Lenny's Podcast and talk about how you found such a unique network of startups that are all doing well.
u/frenchydev1 wrote (the comment Michael replied to):
I'm not much of one for podcasts :) when I do some advisory work to help them out during a raise their numbers seem relatively good, but perhaps my years of experience isn't on par with chatting with people. 100% of things you give up on fail so I'll take my little 10% :) best of
u/michaelnovatireplied·
FWIW I love this attitude in general and I completely agree. In terms of Coding bootcamps though, we have far too many founders starting coding bootcamps with this attitude and that's not okay. Fake it til you make it is not appropriate when people are entrusting you to guide them and paying you $20K.