Seibert: Down markets enable higher startup talent density than bull markets
Jeff Seibert · Jeff Seibert: Why OpenAI Will Become an Infrastructure Play | E1085 · 20VC with Harry Stebbings · Nov 22, 2023 · at 51:32
Jeff Seibert, founder and CEO of Digits and former Twitter Head of Consumer Product, discusses why he prefers economic downturns for building startups compared to hyper-inflated hot markets.
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“I actually love sort of down markets because I think in the very hot markets, it's too easy to raise capital and you peel off all the sort of like fantastic second engineers or product managers or designers or whoever they might be, and they go get funding and start something. And that actually sort of blurs. It stretches the talent density across the entire ecosystem versus in down markets. You can build higher talent density because it's harder to raise your own money.”
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