The party isn’t over yet
The vibe has shifted in capital markets but the party is raging on. Supposedly the world is ending or will soon but the carousel of sushi lunches, boat parties, Hawaiian conferences, box seats, and free merch just keeps spinning. It’s a great time and you’re a sucker if you’re not doing everything possible to milk it.
But aren’t we all supposed to be having a bad time right now? Why does it not just seem like business as usual but that the tech/venture/startup party is stronger than ever? The circle is hard to square.
It only feels like this because the money was already budgeted for in a bull market (or in the case of NFT NYT paid for when ETH was $3000+). So for as much as loose money buoyed valuations, it’s still propping up marketing budgets on a lag. It’s all going to end. And soon.
Even if the VCs themselves only cut marketing to appear austere and avoid seeming out of step, the corporate sponsorships will fade fast once budget cycles reset. Depressed markets will wash out the startups and the banks and the companies that sell to them. The rooftops will be empty and the yachts will be docked. You might even have to pay for your own drinks!
So try to make the best of it while you still can. You’ve got 3-6 more months to enjoy it and then things will get properly dark and cold and lonely come January 1 when zero-based budgeting kicks in.
Happy summer!