Tech companies the world over have seen the worst year of their lives amid surging inflation and interest rate hikes.
Tech companies the world over have seen the worst year of their lives amid surging inflation and interest rate hikes.

Survival tips for tech startups as funding dries up

After reaching sky-high valuations, tech companies the world over have seen the worst year of their lives amid surging inflation and interest rate hikes. Many are cutting jobs and shutting parts of their operations to shore up balance sheets ahead of a potential recession.
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By Yoolim Lee

(Bloomberg) — For years, becoming a unicorn was the main goal of startups. Now, with venture funding drying up and many young firms' survival in doubt, another creature is the talk of the town: the cockroach.

Venture capitalists and technology chieftains converged in Singapore in recent weeks to hobnob over a number of high-profile annual conferences, marking the city-state's grand coming-out-of-Covid party. Yet gone was glamor and talk of blitzscaling, and participants instead focused on the drastic need for conserving cash and a dimming future.

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