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Over 3,200 Venture-Backed U.S. Startups Have Failed in 2023
Over 3,200 venture-backed U.S. startups failed this year, raising questions about investment strategies and comparisons to past bubbles.
Data compiled by PitchBook for The New York Times reveals that approximately 3,200 private venture-backed U.S. companies have gone out of business this year, with a combined $27.2 billion in venture funding raised. PitchBook notes the data may not fully capture the extent of failures as it possibly undercounts the total and excludes high-profile public failures or acquisitions. Social media reactions range from disappointment to skepticism, with some users highlighting a lack of focus on cash flow and profitability among startups, and others comparing the current situation to the dot-com bust of the early 2000s, suggesting such a high number of failures is typical following an investment bubble.
Source: Craig Fuller