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Psychedelic Investor Survey, 6 Problems VCs Look For, Hiring on a Budget – TechCrunch


Since the start of the pandemic, the percentage of American workers who have quit their jobs has reached a 20-year high. A Pew Research poll rounded up their top three reasons:

  • Not making enough money
  • No possibility of evolution
  • Tired of unfair/disrespectful treatment

Companies no longer compete on the basis of wages and benefits. Job candidates explicitly seek environments where they can develop their skills while contributing (and participating) in the success of the company.

Last month at TechCrunch Early Stage, Glen Evans, a core talent team partner at Greylock, joined me to talk about how founders can optimize the recruiting and hiring process, find talents and learn some of the best practices for closing candidates.


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“The state of the job market is more competitive than I’ve ever seen,” said Evans, who has two decades of experience overseeing recruitment and team building at fast-growing companies. such as Slack, Facebook and Google.

“There’s a very limited supply of talent and probably the greatest demand I’ve ever seen, so it’s really important that people think about how to differentiate themselves and build the foundations and habits to recruit talent well. talents from the earliest days,” he said. .

Founders should always be in recruiting mode, says Evans, because small teams can act quickly to shorten time to hire and customize their scope to meet candidates’ individual economic and emotional demands. Also important: don’t guess if they are considering other offers; just ask them.

“Most candidates will tell you that, and some won’t,” Evans said. “But if you’re a Series A or a start-up, and they’re also interviewing at Google, Netflix, and Facebook, there’s something wrong.”

Thank you so much for reading TC+ this week!

Walter Thompson
Editor-in-Chief, TechCrunch+
@yourprotagonist

Psychedelic startups are on a long journey to consumer markets, but these 5 VCs are getting in the way

Picture credits: Leslie Laurent (Opens in a new window) /Getty Pictures

For years, users have used substances like cannabis and microdoses of LSD and psilocybin mushrooms to improve their mood and sharpen their mental focus.

Now that regulators and clinicians are re-evaluating these drugs, investors are exploring what this growing market has to offer.

In the United States, more than 400 clinics offer ketamine therapy, and MDMA, commonly known as ecstasy, is on track for FDA approval in 2023. In Oakland and Denver, “magic mushrooms” have already been decriminalized for adult use.

To learn more about apps attracting VCs to psychedelics, journalist Anna Heim interviewed five people active in the industry:

  • Tim Schlidt, Co-Founder and Partner, Palo Santo
  • Ryan Zurrer, Founder, Vine Ventures
  • Dina Burkitbayeva, Founder, PsyMed Ventures
  • Clara Burtenshaw, Partner, Neo Kuma Ventures
  • Sa’ad Shah, Managing Partner, Noetic Fund

Budgeting and planning for your first digital product

Business and finance concept

Picture credits: Nora Carol Photography (Opens in a new window) /Getty Pictures

If you can imagine a solution that solves a customer’s problem, it helps to have technical skills if you want to bring it to market.

But this is not a requirement.

As long as entrepreneurs “understand how design, technology, and development interact,” creating a digital product is an achievable goal, writes Charles Fry, CEO of CODE Exits.

In an article that includes a matrix for estimating the costs of building everything from bootstrapped slideware to a large-scale project, Fry explains how non-technical founders should approach budgeting, planning, and what priorities newbies should keep in mind. mind when building.

Here’s how much startup valuations fell in the first quarter of 2022

Psychedelic Investor Survey, 6 Problems VCs Look For, Hiring on a Budget – TechCrunch

Picture credits: Nigel Susman (Opens in a new window)

According to data from Carta, which makes software that helps startups manage their cap tables, the average valuation of seed rounds in Q1 2022 fell 5%, while Series A rounds fell 28%. %, Series B rounds fell 8% and Series C rounds fell 42%, wrote Alex Wilhelm in The Exchange.

“This is the natural continuation of a multi-year period of frenetic transactions and misuse of business fundamentals. The pendulum always swings back.

Dear Sophie: Any updates from USCIS on automatic work extensions and bounty processing?

Lone figure at the entrance to the maze hedge which has an American flag in the center

Picture credits: Bryce Durbin/TechCrunch

Dear Sophia,

My H-1B expires at the end of May and my employer recently filed for an extension. I am worried about the results.

Can I add a premium treatment and pay for it personally? I’m thinking of applying for an EB-2 NIW green card – what’s the latest in premium processing?

— Hunger in high technology

Will the venture capital boom lead to a frenzy of mergers and acquisitions?

Psychedelic Investor Survey, 6 Problems VCs Look For, Hiring on a Budget – TechCrunch

Picture credits: Nigel Susman (Opens in a new window)

In a market where valuations are falling, corporate venture capital is well positioned to seize opportunities. The IPO window may be closed, but investors are still pushing founders for an exit.

As a result, Alex Wilhelm and Anna Heim speculated in The Exchange that we could see a surge in mergers and acquisitions led by HVAC companies in the second half of the year.

“For early-stage startups looking for buyers, it will be natural to look at their own cap table and give a call to corporate investors who appear on the list,” they wrote.

“But often it will also happen the other way around, with CVCs becoming lead generators for companies’ M&A departments.”

Pitch Deck Teardown: Momentum’s $5 Million Pitch Deck

Disassembly of the presentation deck - Momentum

Picture credits: TechCrunch

Momentum, a B2B company that makes sales process automation software, accidentally convinced an early investor to lead its seed round before the founders had even created a pitch deck.

“We showed up at a board meeting on Friday. On Monday, they were like, ‘Hey, do you have five minutes? We want to sit with you,” said CEO and co-founder Santiago Suarez Ordoñez.

“They literally put a term sheet on the table with the exact terms we wanted.”

6 places investors look for trouble in your fundraising

Low section view of janitor cleaning dirt under carpet with mop

Picture credits: Andrei Popov (Opens in a new window) /Getty Pictures

According to Bill Petty, a partner at Tercera, here are the six questions investors are most likely to ask during due diligence:

  1. What is your company’s historical performance?
  2. How do you envision and plan for growth?
  3. What is the distribution of ownership?
  4. Who are your main clients and what is the nature of the work you do for them?
  5. How do you run the business? What is your attrition, usage, billing rates, etc. ?
  6. Are there any outstanding risks?

If you can’t answer these questions off the top of your head, you’re probably not ready to fundraise. Investors have higher expectations than friends and family who may have helped you get this far.

“It’s the difference between having a friend over for dinner and planning an open house,” says Petty.

“With a friend, you can tidy up and put away a few things in the closet. If you have buyers coming to take a look, they’ll open that closet.”



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