Here’s a fascinating tidbit: 50% of US small businesses and startups are owned by people 55 or older. Many of them have no succession plan. Now, that’s potential, and there’s no doubt in my mind that the rest of the world behaves similarly. So, why not get one of those companies for yourself?
Having a startup is daunting and can lead to some dark times. So, there’s the idea of a buy-up instead of a startup. As its name suggests, it consists of buying something already started. So, you “skip” specific steps and already have a product that works and an established customer base.
Platforms such as Microacquire have risen in popularity. These allow you to buy and sell startups (or part of them) in, what seems to be, a safe environment. There’s total anonymity, and buyers must have a rating and evaluation. Since 2020, Microacquire has grown to more than 100,000 users and 2,000 companies for sale.
If you do your homework, you might buy something that turns out great, but don’t think it’s an easy ride. You’ve skipped some steps and have shortened the learning curve, but now, you have to keep the company alive.
One year ago, the world was obsessed with the “Great Resignation.” People left their jobs and shifted towards having a larger sense of control over what they wanted from work. The reasons for this seismic shift seemed evident at the time - while under lockdown we discovered that a 9-to-5 schedule plus commute wasn’t our thing anymore. Fast forward one year, and no one could’ve predicted the chaos in the past months.
Rampant inflation and economic uncertainties are just some of the factors shifting our work lives but from another angle. Now, it’s taking a toll on companies. As they strive to survive, and some can’t, it’s the company’s turn to take to the chopping block.
Layoffs, especially in the startup world, have gotten so bad that there’s a layoff tracker. Big names Cameo, Bolt and On Deck, are downsizing, and I can’t help but feel sad about this. As much as the startup world is competitive, we don’t like seeing these layoffs: these are real people with financial needs. So, I tried to look at some of the positive numbers in all of this.
Good employees are hard to find, and startups are looking for them. In the US alone, there was two job openings for every unemployed person by the end of April. Talent is still king, and it’s harder to find these days. The US added 428,000 jobs last month and managed to keep the unemployment rate similar to prepandemic times. As far as tech goes, there’s a surprising phenomenon -jobs aren’t coming from Silicon Valley anymore.
We’re going through considerable change these days, and it calls for a shift in strategy. First of all, it’s time to ditch the idea that all jobs will come from traditional markets. Then, it’s time to shift the focus. One year ago, many were quitting because they looked for something valuable for themselves, whereas now the challenge is proving yourself useful for startups. Trust me, they’re looking for you. (And if you’re based in Costa Rica we are looking to add a few people to our own team)
Our next Demo Day is almost here! Are you preparing to pitch to investors? Here's your chance to practice and get feedback from a panel of experienced founders. Just remember that the deadline for applications is tomorrow, but if you can’t make this one you should start getting ready for the next one.
What do a wealthy old man and a broke teenager have in common? They're both essential for business.
But this guy didn't give a damn about teenagers, and his mentality was slowly killing Formula 1. So, how did Formula 1 go from a teenage-hating wealthy boomer sport to this? You asked for it, we delivered. Let's talk about F1 in this episode of Forensics.
When India reached the famed 100-unicorn mark, the entire world tipped its collective hat. After all, the country accounts for the third-most unicorns in the world, but it’s not all good news. The skepticism is there: perhaps the valuations are too high, and the expansion is too fast.
Let’s look at profits. Yes, I know not all startups have to be profitable immediately, but it’s a good indicator. So, how are the 100 unicorns going in this department? The short answer is not great, and it has concerned many. After all, investors want expansion, but they also want a somewhat clear path to profitability.
Let’s add another fact: the country might reach 250 unicorns by 2025. So, it’s understandable why there’s no consensus on whether this rise in unicorns in India is a good thing. So, my take goes beyond the number of unicorns. Are these hundreds of companies going to help the country and its employees?