As we approach the end of 2022, all of us at StartFast Ventures want to wish you a healthy and happy holiday season and a new year filled with promise and opportunity.
2022 has been a challenging year for many sectors of the economy, not the least of which for public technology stocks. If history is to be a teacher, it is during uncertain economic times that some of the most world changing companies tend to be built. To wit: Uber, AirBnb, Slack, WhatsApp all were founded in the '08/'09 recession.
The very budgetary decisions public technology companies must make during these times: freezing hiring, making layoffs, and slashing R&D budgets all come to the benefit of startups. It is during these uncertain economic times startups find easier access to labor markets and industries underinvesting in innovation. With the majority of StartFast Fund II yet to be deployed we are excited to invest a new wave of world changing businesses that will be forged in this environment.
Stay strong, healthy, and join all of us at StartFast in looking ahead to a 2023 filled with optimism.
-Michael Quigley, Managing Partner