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There is a growing sense among founders in the global tech startup scene, and to some degree in the media, that numbers have become more important than narratives. Long gone are the days when a startup could raise millions of dollars on a unicorn valuation purely based on a good story and some wild predictions about the future of X.
The economic tides have turned for VC-backed startups. Higher interest rates mean that asset managers will favor less risky investments, which means that there will be less venture capital in the market — which, again, means that it’s no longer
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