Can you really create the next billion dollar startup?
With episodes of Shark Tank playing on rerun seemingly non-stop the American Dream of creating the next billion dollar startup seems to be alive and well, but is it really?
In the tech industry we have been in somewhat a “golden era” of growth the past 20 years that was fueled by very low cost borrowing rates and insane company valuations. We are just starting to see the cracks as the interbank borrowing rates continually creeping up and consumers have less disposable income due to soaring housing and consumable goods costs.
While layoffs at more traditional tech-only companies (Alphabet, Meta, Salesforce) may not be as surprising, companies such as Amazon and Microsoft have very diversified businesses and therefore are a much better indicator of the health of the overall economy. So, seeing Microsoft layoff nearly 10,000 and Amazon laying off 18,000 people could be the canary in the coal mine 🐥 of our country’s upcoming economic struggles.