Photo: Demolition Dynamics
The stock market is in the middle of its worst period since the 2008 financial crisis, and it’s starting to spook Union Square Ventures partner Albert Wenger.In a post on his personal blog Wenger says, “if you are running a company that needs to do a venture round soon, I highly recommend that you get it done ASAP as opposed to optimising for price,” because ” I believe that the probability of a dip that could be as big as 2008 or even bigger has gone up tremendously in the last few months.”
Wenger sees a number of big problems in the economy right now — Europe is collapsing, our political system is deeply flawed, and we aren’t implementing any small fixes to get the country back on track.
All of that is weighing on the public markets, which trickles down to the private markets, says Wenger.
So, rather than chase that billion dollar valuation, startups should grab cash at the best price being offered.