With interest rates so low (and lots of headwinds for them to increase in the short-term), one has to think that this will be the new normal for a few years at least. The rise of SPACs is another sign - they are disrupting both later-stage VC funds as well as obviously vanilla IPOs.
I wonder if the abundance of capital is not evenly distributed through the startup lifecycle, but more heavily-weighted towards later stages.
Anecdotally, I've heard from founders that SEED rounds are getting harder despite all the frothiness. Even back when we did our seed rounds ~2015, we already heard "today's seed round is yesterday's Series A" in terms of $ size but also minimum bar of progress. And these days it seems that is EVEN MORE true. It's also true it's easier to start a SaaS company than ever before. But it's ALSO ALSO true that there is less and less SaaS greenspace. Hmmmm.
I wonder if the abundance of capital is not evenly distributed through the startup lifecycle, but more heavily-weighted towards later stages.
Anecdotally, I've heard from founders that SEED rounds are getting harder despite all the frothiness. Even back when we did our seed rounds ~2015, we already heard "today's seed round is yesterday's Series A" in terms of $ size but also minimum bar of progress. And these days it seems that is EVEN MORE true. It's also true it's easier to start a SaaS company than ever before. But it's ALSO ALSO true that there is less and less SaaS greenspace. Hmmmm.