Silicon Valley Bank says the startup downturn has yet to hit bottom

If you thought 2022 was a bad one for startups and founders, wait until you see this one.

Last year, the typical late-stage company saw its value get cut in half. And 2021's record-breaking flood of startups hitting the public markets turned into a tiny trickle.

But things are likely to get even worse for startups before they get better, Silicon Valley Bank said in a new report this week.

"In 2023, (venture investors) are in the driver’s seat again, and they’ve taken their foot off the gas,"…

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