March by D’Ornano + Co.: a look at some of the changes expected in Startupland in the aftermath of SVB, why the creator economy is hot, and how PE might benefit from high inflation

This is our monthly newsletter dedicated to Tech x Investments.

Dear all,

In last month’s newsletter, I questioned whether you wanted to see the glass half full or half empty regarding Tech investing. Well, the events that unraveled this past month around SVB and a perhaps wider banking crisis have made this question even more relevant. As a result, founders and investors, once again, must recalibrate their thinking and strategies.

Let’s start with you, founders. With the fall of SVB, many startups who were expecting to postpone the tricky question of their valuation to better times are now confronted with the need for fundraising in an ever tighter environment than just before the current banking crisis. Tighter not because there is no liquidity but because private market valuations are necessarily made in light of those tech companies that went public over the recent period. Well those valuations are strongly down (on average by 70%) (see our Medium article on this subject, supra), and this trend has now come to VC land. As a result, more challeng…