Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Knoxville Business News Tennessee Mountain Scenery Background
July 04, 2023 | Tom Ballard

Crunchbase News examines big news items from first half of 2023

The implosion of FTX, positive impact of artificial intelligence, and massive layoffs at tech firms grabbed the headlines.

Part one of the mid-year report from Crunchbase News has been released, and it concludes that “the first half of the year has been a winding ride for venture and start-ups.”

Starting with what Chris Metinko characterizes as “one of the greatest start-up implosions of all time: that of crypto exchange FTX,” it chronicles the positive impact of artificial intelligence, the collapse of Silicon Valley Bank “which had relationships with more than half of all venture-backed companies in the U.S. and countless VC (venture capital) firms,” and the layoff of about 150,000 workers at U.S.-based tech companies.

“The venture and start-ups sectors have shown amazing resilience amid layoffs, less money, and multiple crises,” Metinko writes. “It’s likely VC and private tech companies will have to continue to show that resilience in the second half of 2023.”

The first article in the series can be found here.

Don’t Miss Out on the Southeast’s Latest Entrepreneurial, Business, & Tech News!

Sign-up to get the Teknovation Newsletter in your inbox each morning!

  • This field is for validation purposes and should be left unchanged.

No, thanks!