Investor sentiment is low. Funding is slowing down. Valuation multiples are shrinking and my WhatsApp does not get filled up with random mates bragging about their paper multiples on individual stocks. Investing in tech does not seem so ‘sexy’ anymore.
Financial indicators, such as the general direction of public markets, tell us that the current environment is a bearish market.
Yet this is, perhaps, precisely why now is the time to build ‘unsexy’ startups.
In both public and private equity markets we have effectively seen a 20-year-long bull market unfold, which was briefly hit mid-term by the real estate bubble crash. Over these 20 years, flashy digital platforms proliferated, from social media to fintechs and from mobility and delivery apps to thousands of copycats B2B software companies....