USV Partner: Stay Positive and Ignore the Web3 Naysayers
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USV Partner: Stay Positive and Ignore the Web3 Naysayers
There are always new problems to solve, new markets to create, and new products to emerge.
Navigating Web3 tides with focused insightsWritten by: Fred Wilson, USV Partner
Translated by: TechFlow intern
The past six months have been challenging for technology and tech startups. Macro events have placed significant pressure on the industry, causing valuations to plummet, revenue growth to slow (or stall), and layoffs to become widespread.
My peers are also deeply frustrated—some of their businesses have ground to a halt, leaving them helpless. They're struggling to plan ahead, making projections for this year and next. They feel terrible about having to let so many talented people go.
In times like these, solidarity among companies helps, and we see this happening everywhere. We realize now that we were caught up in the good times and overlooked future hardships. This was our collective mistake. Had we been more conservative with our growth and hiring plans, our companies wouldn't be in a position today where talent is being lost—and this is on us.
But right now, the priority is staying in the game, so you can make it through to the next bull market. So it's time to accept your setbacks, learn some valuable lessons from them, and then move forward.
Now is also the time to stay positive. If you're a leader of a company (or any team), you must lead with optimism, passion, and positive energy. There are people out there shouting that tech is dead, that Web3 is over, cheering its demise. The best response is to ignore all that noise, focus on what you're building, and find some wins—for your team and for yourself.
The great thing about working in tech is that there are always new problems to solve, new markets to create, and new products to build. Macro events don’t change that. So keep yourself and your team focused on building and delivering, achieve some wins, and move forward with optimism and positive energy.
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