Author: lucasabia

Hello! I am currently leveraging 10+ yrs' professional experience in stakeholder engagement and management to research upon the role of online communities in new venture funding. Find out more about me here: https://www.linkedin.com/in/lucasabia/

"As of late Tuesday, more than 5,000 startup employees are out of a job as the coronavirus wreaks havoc on the economy. (…) For now, the layoffs are affecting largely companies with a high cash-burn rate (...) or companies that haven’t raised money in the last year or two (...) and thus lack a big cash cushion, or both. But many industry watchers expect the job cuts to spread as the lockdown continues."

(Source: Bloomberg)

“The desire to get rich and create wealth will clearly not go away, nor should it. These findings do demonstrate that individual wealth creation is by no means the only driver for entrepreneurs. The new generation of entrepreneurs increasingly tend to be aspirational in other ways.”

Niels Bosma, Professor at Utrecht University School of Economics and Chair of the GEM’s Board of Directors