04.06.2022 Musings
“If you hurry to get to the future, you always get a punishment for it. For example, instant coffee.”
Alan Watts
Fast paid too little attention to burn rate because it just assumed the VC gravy train would keep rolling. It’s not the only one, so don’t be surprised to see similar stories in the near future. It’s a startup strategy that’s mostly paid off for the past decade but, as we first discussed in January, things have changed. It’s like the longest-ever game of musical chairs has finally ended. It’s been a long time since these morning missives have needed a dedicated section to track VC-backed startup layoffs and closures. We’re not quite there yet, but I’m sensing it on the horizon.
Dan Primack, Axios Pro Rata Newsletter.
Dan Primack outlines the more significant implications of the news that Fast, an online commerce-focused company, will shut down.