As the economy begins to recover, many are hoping for a brighter future in the coming years. However, for startups hoping to secure a piece of the budget pie, 2024 may not prove to be much better than the previous year. While there are certainly pockets of growth to be found, startups must prove their value now more than ever in order to thrive. This was revealed in discussions with investors, conducted by TechCrunch’s Ron Miller and Rebecca Szkutak, where generative AI was also noted as an important factor in the industry.
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As we navigate through the challenges of another bumpy year, companies must follow the
Rule of X
in order to make the most of their growth and future recurring revenue. According to Bessemer Venture partner Byron Deeter and investor Sam Bondy, this equation provides a more accurate weighing of these key factors.
One company that exemplifies this approach is Metafuels, which recently raised $8 million in seed funding to support its goal of reducing emissions from airplanes. However, there are still areas for improvement in their pitch deck, such as adding a competition slide and focusing on team strengths.
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The future looks bright for web3 companies as CoinFund’s Founder Forecast survey predicts growth and hiring for 70% of respondents in 2024. In order to navigate the complex landscape of AI applications, companies must also have strong ethical and risk-management frameworks in place. Phani Dasari, Chief Information Security Officer at Hinduja Global Solutions, outlines the key components of AI governance to help companies achieve success in this evolving field.
