E98: The State of Southern Venture in 2023

Venture In The South

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2023 has proven to be more challenging than rewarding for Venture, marked by a series of disappointments amidst its noteworthy events. This show critically examines and discusses the implications of key occurrences in 2023 that will shape Venture's trajectory into 2024. I am joined by three distinguished experts in the field:

1. Paul Clark, my co-host and Principal at VentureSouth.
2. John Avey, the Director of ATDC, the South's largest and most successful incubator/accelerator.
3. Todd Kirschner, a former West Coast VC turned solo professional Angel Investor now based in Charlotte, NC.

Together, we delve into their perspectives on the following topics:

1. The major Venture stories of 2023: A decline in funding, a decrease in deal numbers, a rise in shutdowns, and the dominance of AI in headlines.
2. The impact of 'Higher for Longer' interest rates on venture capital.
3. The 'State of Capital' in the South, covering valuations, early-stage capital availability, and the prevailing Exit drought.
4. The existing risks and opportunities for founders and investors as they navigate 2024.

Through this comprehensive discussion, we aim to provide insights into the challenges and opportunities that lie ahead for Venture in 2024.

Follow David on LinkedIn or reach out to David on Twitter/X @DGRollingSouth for comments.
Follow Paul on LinkedIn or reach out to Paul on Twitter/X @PalmettoAngel
We invite your feedback and suggestions at www.ventureinthesouth.com or email [e-mail]. Learn more about RollingSouth at rollingsouth.vc or email [e-mail].
Download our White Papers and Cheat Sheets HERE. Thanks for listening and remember: Our mission is to MAKE MONEY, HAVE FUN, AND DO GOOD.

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1. E98: The State of Southern Venture in 2023 (00:00:00)

2. Guest Introductions (00:00:56)

3. Funding was down (00:02:05)

4. Whos is funding what (00:06:57)

5. Shutdowns (00:07:17)

6. AI dominated the headlines (00:10:52)

7. Capped profit structure of OpenAI (00:21:12)

8. Regulation of AI (00:24:50)

9. Interest rates effect on Venture (00:27:42)

10. An economic soft landing vs mild recession (00:33:02)

11. Reversion to the mean (00:35:36)

12. Valuations and round sizes in 2023 (00:41:29)

13. Exit opportunities and valuations in the south (00:49:19)

14. Founder resilience vs 'moving on' (00:54:43)