Leading venture capital players are predicting a "mass extinction event" for early- and mid-stage startups that will make the global fiscal collapse in 2008 "look quaint" by comparison

A new survey indicates that 81% of early-stage startups are facing a failure in 2023 because—as of the end of October—they had less than 12 months of capital left to keep going because VC funds turned the spigot off last year on a flood of seed funding.

An international survey of 450 startup founders in the US and Europe was conducted between August and October 2022 by research firm January Ventures, with 61% of respondents from the US and 32% from Europe.

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