- The coronavirus pandemic has forced startups to layoff thousands to survive.
- Startups reliant on social gathering and movement (eg Airbnb, Bird scooter rental, fitness) have been especially hard-hit.
- While some areas – telemedicine, food delivery, online learning, remote work, gaming – are thriving, most are feeling the pinch from venture capital investors pulling back (steepest decline in funding in 10 years).
- Bird laid off hundreds of employees via video-conference.
- The current “start-up survival guide” involves spending cuts, lowering prices and seeking government assistance.
