Jamie Dimon warned of a recession within six to nine months that could tank markets 20-30%. Large companies monitor macro conditions constantly, but startups often overstate recession risk as an excuse for failed fundraising. The downturn is forcing founders to actually learn how to build sustainable businesses.
Jamie Dimon, who's the CEO of JPMorgan, you know, largely considered to be one of kind of the, the best operators in financial markets or the bulge bracket banks, said that he thinks we could see a recession in the next 6 to 9 months, and he thinks markets could pull back another 20 to 30% if it's a bad recession.
Well, I think from an entrepreneur's perspective, if you're running a large company, you're running a bank, you're running Caterpillar, your business is so large that it sort sort of cannot not think about the macroeconomic situation. I think startups overly focus on it and again, like, find it and use it as an excuse for why they can't close a deal.
I think it's really affecting founders' opportunities to raise money.
They're learning how to run a real business. Is that, is that it?
Yeah. Yeah.
SF startup Eve just raised $103 million led by Spark Capital with backing from a16z and Lightspeed.
