It is becoming more apparent that American startups are facing a bad year, and financial relief is far from coming.
Higher interest rates, a shaky U.S. economy, and the recent banking crisis have led to a shortage of funds for capital-hungry startups in their early stages, along with less opportunity for those in late-stage development to cash out and exit.
Despite that investors remain optimistic due to rising stocks on Wall Street and positive corporate earnings reports in the second quarter, the news has not benefited aspiring new companies.
Startups across the country, particularly in Silicon Valley, which was hit hard by the collapse of key regional lenders, are expected to face lean times….