![]() "The owner of a mature company is supposed to be responsible. "The startup founder has to show a lot of courage and resolve to shake up the status quo," said Sebastian Mallaby, an expert in international economics for the Council on Foreign Relations (CFR), and author of The Power Law: Venture Capital and the Art of Disruption (Allen Lane publishing). He loses the freedom to take bold steps and feels pushed out the door." Especially when the startup has grown enough to reach "unicorn" status – valued at more than $1 billion – the game changes. And for the entrepreneur, it becomes less fun. They want to know how and why decisions are being made," he said. However, when the fear of recession arises, "they are much more concerned about their return on investment. When money was flowing in abundance, which was again the case in the record year of 2021 with investments of $344 billion (about €348.5 billion), financiers were "enthusiastic, optimistic and gave the founders free rein." To understand these multiple departures, Josh Lerner, professor at Harvard Business School, evokes the life cycle of the venture capitalist universe, the financiers of high-tech start-ups. He speaks glowingly of future documentary productions, while remaining an advisor and board member of his company. Joe Gebbia, one of the three pillars of Airbnb, similarly intends to devote himself to his new startup: his child. ![]() Emily Weiss, creator of the beauty products site Glossier, has given up her day-to-day CEO responsibilities to take care of her baby. Read more Article réservé à nos abonnés Fired by e-mail: Elon Musk launches a wave of layoffs at Twitterīen Silbermann, co-founder of Pinterest, has resigned as CEO. His departure came not long after that of Jack Dorsey, and before him Dick Costolo. Parag Agrawal has just been fired as head of Twitter by its new owner Elon Musk. ![]() Several young Silicon Valley bosses are leaving, pushed out by their shareholders, or simply fed up with the life of a start-up that has come of age. Heavy clouds are gathering over the West Coast of the United States. With the fear of recession in sight, investors are becoming more cautious and sharpening their demands on start-ups.īy Caroline Talbot Published on Novemat 16h00, updated at 18h29 on November 10, 2022 Whether fired or tired, young guns are leaving Silicon Valley
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