Russ Heddleston, CEO of Dropbox’s DocSend, says that as valuations fall, founders are more than ever “convinced that their company is built to survive with long-term profitability and scalability in mind. “I need to prove that,” he wrote.

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According to data from DocSend, investors aren’t looking at proposal materials as seriously as they used to. However, there is still a market for early-stage deals. “For founders, perfecting their pitch, developing an efficient sales strategy, and quickly narrowing down their product scope will lay a strong foundation for success in attracting investors.”

Thank you for reading. I hope you have a nice vacation.

Karin

Ask Sophie: Is it still easy for AI founders to get a green card?

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Dear Sophie

I’m interested in the Biden administration’s efforts to retain AI talent in the United States. How is the government making it easier for AI companies to sponsor permanent residency for their employees? Will the number of green cards allocated to individuals in the AI ​​field increase?

— All about AI

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Cryptocurrency valuations “back to reality” in 2023, but venture capitalists expect them to rise again in 2024

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It hasn’t been a great year for cryptocurrency companies, but change may be on the way. Experts told Jacqueline Melinek that crypto trading is likely to become active again in 2024. “The tougher funding environment in 2023 only culled out weaker companies that were able to secure capital in 2021,” she wrote.

From Seed to Series A: Strategic Insights for Technology Founders in the 2024 Venture Environment

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A new report from Forum Ventures provides a good look at the current state of early-stage B2B SaaS investing.

While the data may be discouraging, the silver lining is that rounds are still being made and companies that find product-market fit will likely scale up in the next few years, likely in the next bull market. “This means they should benefit,” wrote the CEO of Forum Ventures. Managing Partner Mike Cardamone.