VC job preservation

A month ago, I spoke to a friend who works in VC and he mentioned that he’s basically just in job preservation mode.

I also just saw this tweet from Ali Moiz, the founder of Stonks.com:

Ummm...quite a few VCs seem to have lost or changed their jobs. Lots of Associates, Principals, even a few Partners. I sent out a bunch of emails to stonks users today, and seeing dozens of auto-responders specifically from investors that are "no longer with the firm"

It’s a really tough time in the industry. A lot of firms are sitting on a ton of dry powder but have not been deploying for the last year and a half. I know quite a few prominent VCs who have done 0 deals in the last year. This is of course partly strategic as the tech sector goes through a valuation reset and investors are waiting to see where things land.

A lack of deals means a lack of work for a lot of people who work in VC. No one is immune in this down market.