Venture Cycle

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Morin: Startup cycle is nearing end when fundraising eclipses customers
“This is how you know the cycle is coming, like, at least somewhere in the tail end, because people aren't actually talking about customers. They're only talking about the money that they raise”
Dave Morin Jun 5, 2026 ▶ 31:58 Silicon Valley IPO Summer 2026: SpaceX, Anthropic, OpenAI Explained

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