Those numbers couldn’t be correct. A month before job losses in the United States surpassed 10 million in two weeks, figures were leaking out of China. In eCommerce and retail, China has served as a leading indicator of sorts, but on February 15th, we couldn’t have imagined the news that would come at the end of the following month. A colleague at Alibaba mentioned that the news would later report a job loss number of catastrophic proportions: six million in the month of February. I didn’t believe it so I disregarded the estimates. I was wrong to do so.
Venture financing is evolving and so are the high growth companies that seek alternatives to traditional venture capital. Recently, Andreessen-Horowitz renounced its VC exemptions to register as a financial advisor. And in a surprising decision by the marketing-savvy group of investors, the shift to financial advisory means a few key changes: regulator personnel hires, employee audits, and perhaps the most impactful evolution – A16Z can no longer advertise its investments on Twitter, LinkedIn, podcasts, or mainstream media. The impact of this pivot may take cycles to recognize. But within another tangent of an evolving industry – Clearbanc who hopes to have an immediate impact on startups in the eCommerce industry and beyond.
