No, startups are not facing a ‘mass extinction event' | Gene Marks

Just look at the numbers: despite interest rate hikes and a slash in venture capital, new business creation is going strong

The Mass Extinction Event for startups is under way," a partner for a well-known venture capital firm warned in a recent article in the Wall Street Journal. Capital from venture investors and bank loans is scarce and expensive" and venture-backed startups are running out of money and facing hard choices".

The numbers support this: venture capital funding in the first quarter of 2023 was only at 40% of the levels seen in the fourth quarter of 2021. But mass extinction?