Posted 12/15/2023, 12:00:17 PM
Venture Capital Funding Plummets in 2023 Tech Downturn, Silicon Valley Bank Collapse and Mass Layoffs Follow
- Global VC funding fell dramatically in 2023, down over 50% from 2021 heights
- Silicon Valley Bank's sudden collapse sent shockwaves through the startup world
- Layoffs piled up, with tech sector cuts nearing 200,000 in 2023
- AI and automation became huge focuses, with OpenAI and Stripe landing multi-billion dollar deals
- Many high-flying unicorns saw valuations plummet, like Instacart falling from $39B to under $10B