Frozen in Fear

“Frozen in Fear”– a cartoon that illustrates the danger for early-stage investors and startup founders.

Late-stage funding is down 19% year on year, and Peter Hébert, co-founder of Lux Capital, remarked that “the late-stage market is just frozen. People do not know where to price.”

According to Crunchbase, early-stage investing is only 10% off April 2021 and Q1’22 investing is slightly up, which probably means there are a couple of months before a drop in valuations will work their way down to the early investing rounds (pre-Series B).