”Read this yesterday and though it was quite apt for the situation Dubber finds itself.
Unicorn to Cockroach
For years, becoming a unicorn was the main goal of startups. Now, with venture funding drying up and many young firms’ survival in doubt, another creature is the talk of the town: the cockroach.
Venture capitalists and technology chieftains converged in Singapore in recent weeks to hobnob over a number of high-profile annual conferences, marking the city-state's grand coming-out-of-Covid party.
Yet gone was glamor and talk of blitzscaling, and participants instead focused on the drastic need for conserving cash and a dimming future. “It's cockroach time — do whatever it takes to survive,” Tessa Wijaya, co-founder of Xendit, a digital payments firm valued at $1 billion, said during a panel discussion moderated by Square Peg Capital partner Piruze Sabuncu. “It's a little bit gross but it kind of works. If you can survive the next two, three years, you’re probably going to thrive.
DUB Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
