What is going on? This is scary.
VC financing is down >50% (really more than that – just bumped by OpenAI vendor financing); IPOs are non-existent; SPACs are dead; acquirehire and similar exits are down significantly.
There just isn’t as much to do, and timing of turnaround is uncertain.
Incoming class was hired during the gangbuster summer of '21 and is probably huge, and without work for the current first years, there isn’t going to be much for a new crop to do.
[deleted] [duplicate]
Can you clarify what is meant by “bumped by OpenAI vendor financing”?
Almost 15% of the “VC” funding in 1Q23 was MSFT’s investment in OpenAI, much of which is used to pay for Azure services that power the AI tool.