Welcome to Startups Weekly, a nuanced take on this weeks startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here.

After techs massive exodus of talent, were starting to see laid-off talent start companies that are ambitious and aspirational in aim. Im talking about the legal analyst who got let go from starting a legal tech startup, or the head of safety at Twitter starting a Twitter rival with safety at the core. Its refreshing, and its palpable.

Is it something in the water? Is it breeding grounds from a specific subset of companies? Is it just easier to start a company these days? Unfortunately, its hard to pinpoint what exactly is reframing risk in 2023. It may just be that 2022 is over or it may just be that techs great reset has reminded some that its time to take the jump, as nothing can be taken for granted.


It is worth noting that theres only a subset of people who can afford to take this risk, especially after haphazardly losing a safety net from an employer contract. In a previous piece, I looked at how some tech workers are responding to risk by doing more due diligence on potential employers, taking on two jobs, otherwise known as over-employment, or reframing their personal finance mindset.

The ones that can afford to jump into building might be a smaller cohort, but oh do they have stories to tell. Read my latest piece that digs into this trend of spin-offs in TC+: Tech layoffs are creating a new era of scrappy (and humbled) founders.

If you still want to read more about how the job market is doing, I have two add-ons! Read this latest by Ron Miller, which gives us some needed hope on why the tech job market might not be as shaky as we think. You can also find a comprehensive list of all of 2023s layoffs in this list, put together by our SEO champion Alyssa Stringer.

In the rest of this newsletter, well talk about a new podcast on one of techs biggest startup competitions, a nudge of fundraising honesty and some surprising data around trends that are fizzling out. As always, you can follow me on Twitter or Instagram to continue the conversation. Im also writing on my personal blog, if youd like to follow along with the 1,821 other people who come to hang and be too wordy.

Inside Startup Battlefield

Ready for a newsletter for your ears, anyone? The TechCrunch Podcast Network has a new podcast and it’s taking you inside one of the most anticipated startup competitions in the world: Startup Battlefield at TechCrunch Disrupt.

Heres why it’s important: The four-part series gets into the entire process behind the competition, from the application to the winner, and Im already eagerly waiting for the next episode (even though I was literally front row when this all played out). Its a must listen for hopeful applicants, curious VCs and anyone who cares about the storytelling behind early-stage startups.

Listen to the first episode here, or wherever you find podcasts.

Image Credits: TechCrunch

“You can be fundraising forever”

I spoke to Meena Harris, the creator of Phenomenal Media and the niece of Vice President Kamala Harris, and Helen Min, the former head of marketing at AngelList, Plaid and other top tech companies. Theyve teamed up to launch Phenomenal Ventures, which just closed a $6 million debut fund with top-tier investors to back enterprise SaaS, fintech and future of commerce companies.

Heres why it’s important: We got some candidness that VCs are filling up my DMs over. The fundraising process for Phenomenal Ventures fund, per Min, took around a year. I am very transparent about this and I wish more people were; we set out to raise a larger fund, she said, adding that they closed the first half of the fund in the first three weeks of fundraising.

Eventually, due to the slowdown of the market and LP freeze-ups, Harris and Min decided that they would stop fundraising after their first close. Theres a real trade-off between the time that we spend fundraising and the time that we can actually spend with deal flow and meeting founders and helping our portfolio companies, so we decided to call it, Min added.

The follow-up

In her latest piece, TCs Sarah Perez asks, Was there a Twitter exodus or just a Twitter pause? She checks in on how the range of Twitter alternatives are doing since Elon Musk took over Twitter, ushering both a vocal exodus and a rise of clones.

Heres why it’s important:In her words, The data indicates that many apps continue to grow to a lesser degree while other apps have seen growth decline. But it also shows that Twitter itself was never significantly impacted, at least in terms of new app installs. But theres more; she also explores how Twitters usage has been impacted by a spate of, critical yet loud, press, and how Reddit and Discord fit into the conversation.

Image Credits: Bryce Durbin / TechCrunch

Etc., etc.

Seen on TechCrunch

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Chinas games industry shrinks for the first time in years

How one Brazilian startups pivot to corporate cards has paid off

Security breach? Dont blame your employees

Seen on TechCrunch+

The on-demand delivery trilemma

When fundraising, anchor your company with the why now? slide

A decade of fintech failures: 4 innovations that didnt live up to the hype

Silicon Valley goes to war

5 buyer red flags to look for during the M&A process

Chat next week,