Psychedelic Investor Survey, 6 Problems VCs Look For, Renting On A Budget – MovieUpdates

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

  • Not making enough money
  • No career opportunities
  • Tired of unfair/disrespectful treatment

Companies no longer compete on the basis of salary and fringe benefits. Prospective employees are explicitly looking for environments where they can expand their skills while contributing to (and participating in) the success of the company.

Last month at MovieUpdates Early Stage, Glen Evans, a partner on Greylock’s core talent team, joined me to talk about how founders can optimize the hiring and hiring process, find talent, and discover some 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 guiding recruiting and team building at high-growth companies, including Slack, Facebook and Google.

“There is a very limited supply of talent and probably the biggest demand I’ve ever seen, so it’s really important for people to think about how to differentiate themselves and build the foundation and the habits to bring talent into get the early days right,” he said. †

Founders should always be in recruiting mode, Evans says, because small teams can switch quickly to reduce hiring time and tailor their reach to candidates’ individual economic and emotional needs. Also important: don’t guess if they’re considering other offers – just ask them.

“Most candidates will tell you, and some won’t,” Evans said. “But if you’re a Series A or a seed startup, and they’re also interviewing at Google and Netflix and Facebook, there’s something going on there.”

Thank you so much for reading TC+ this week!

Walter Thompson
Senior Editor, MovieUpdates+

Psychedelic startups are on a long journey into consumer markets, but these 5 VCs are taking over

Psilocybin mushroom crushed in capsule background

Image Credits: Leslie Lauren (Opens in a new window) / Getty Images

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

As regulators and clinicians reevaluate these drugs, investors are exploring what this mind-altering market has to offer.

More than 400 clinics offer ketamine therapy in the US, and MDMA, better 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 the uses that attract VCs to psychedelics, reporter 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, General Partner, Noetic Fund

Budgeting and planning for your first digital product

Business and finance concept

Image Credits: Nora Carol Photography (Opens in a new window) / Getty Images

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

But that is not a requirement.

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

In a post that includes a matrix for estimating the cost of building everything from bootstrapped slideware to a large-scale project, Fry explains how non-tech founders should approach budgeting and scheduling, and what priorities first-timers should consider when planning. the building.

This is how far startup valuations fell in Q1 2022

Image Credits: Nigel Sussman (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 fell 5% in the first quarter of 2022, while Series A rounds fell 28%, Series B rounds shrank by 8% and Series C rounds plummeted by 42%, Alex Wilhelm wrote in The Exchange.

“This is the natural comedown of a multi-year period of hectic deals and a turn of business fundamentals. The pendulum is always swinging.”

Dear Sophie: Are there any USCIS updates on automatic work extensions and premium processing?

lone figure at the entrance of the maze hedge with an American flag in the middle

Image Credits: Bryce Durbin/MovieUpdates

Dear Sophie,

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

Can I add premium processing and pay for it in person? I’m thinking of applying for an EB-2 NAV green card myself – what’s the latest on premium processing?

— Hungry in High Tech

Will the corporate venture boom spark a merger and acquisition frenzy?

Image Credits: Nigel Sussman (Opens in a new window)

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

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

“For early stage startups looking for buyers, it’s only natural to look at their own cap table and call corporate investors who appear on the list,” they wrote.

“But often it will also happen the other way around, with CVCs leading to lead generators for corporate M&A departments.”

Pitch Deck Teardown: Momentum’s $5M seed pitch deck

Break down pitch deck - Momentum

Image Credits: MovieUpdates

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

“We came to a Friday board meeting. On Monday they said, ‘Hey, do you have five minutes? We want to sit down 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 raising money

Low view of a janitor cleaning dirt under the carpet with a mop

Image Credits: Andrey Popov (Opens in a new window) / Getty Images

According to Bill Petty, a Tercera partner, these are the six questions investors are likely to ask when conducting due diligence:

  1. How is your historical business performance?
  2. How do you think about and plan for growth?
  3. What is the property division?
  4. Who are your most important customers and what is the nature of the work you perform for them?
  5. How do you run the business? What is your churn, usage, billing rates, etc.?
  6. Are there any outstanding risks?

If you can’t answer these by heart, you’re probably not ready to start raising money yet. Investors have higher expectations than the friends and family who may have helped you this far.

“It’s the difference between inviting a friend to dinner and preparing for an open house,” Petty says.

“With a friend, you might be able to clean up and put a few things in the closet. If you have buyers who come to have a look, they will open that cabinet.”

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