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Fast, now Friday. Expect to see a lot more of this. Funding is getting tight. If you're not profitable or don't have a plan to be soon, it will be tough.

• filmgirlcw 5y ago
  >Funding is getting tight. If you're not profitable or don't have a plan to be soon, it will be tough. Funding is NOT tight -- it just doesn't last forever and investors eventually want returns. With Fast, they raised $130m, had 400 employees, a run rate of $10m a month and made a whopping $600k in revenue. The staggering level of incompetence from every single person not just on that executive team, but of the firms who invested in Fast, is something we haven't seen in years. Friday seems to be quite different. They did $2.3m in seed based on Crunchbase and that was in 2020 and never managed to find product market fit. That's a completely different problem than simply not being profitable.
  • arberx 5y ago
    Current market dynamics dictated the death of these startups. If this was last year, they would have gotten funding to survive. Time will tell, but not looking great for anyone trying to raise rn.
    • filmgirlcw 5y ago
      >Current market dynamics dictated the death of these startups. If this was last year, they would have gotten funding to survive. Fast would not have received the funding to survive (if it received any additional funding it would have been predicated on probably cutting staff at least 60% if not more). People are literally raising every single day. Funding might not be at the peak frothy levels it has been at before, but these are hardly bear times right now.