- dot.LA
- Posts
- Weekly Tech Recap: 'Buckle Up': Venture Deals Are Down In LA
Weekly Tech Recap: 'Buckle Up': Venture Deals Are Down In LA
Weekly Tech Recap: 'Buckle Up': Venture Deals Are Down In LA
.
It looks like venture deals are stagnating in Los Angeles.
That’s according to dot.LA’s most recent quarterly VC sentiment survey, in which we asked L.A.-based venture capitalists for their take on the current state of the market. This time, roughly 83% of respondents reported that the number of deals they made in L.A. either stayed the same or declined in the first quarter of 2022.
That’s not hugely surprising given the sluggish dynamics gripping the venture capital world at large these days, due to macroeconomic factors including the ongoing stock market correction, inflation and Russia’s invasion of Ukraine. While startups and VC investors haven’t been hit as hard as public companies, it looks like the ripple effects are beginning to bleed into the private capital markets.
Among VC respondents, about 86% said they believed that valuations in the first quarter were too high—one potential reason why deals slowed, according to TenOneTen Ventures partner Minnie Ingersoll. She noted that L.A.’s growing startup scene features more early-stage ventures, whose valuations haven’t come down the way later-stage startup valuations have.
Have a look at the full report.
Riot Games invested in virtual shooting range developer Statespace, accelerating the Los Angeles developer’s efforts to dominate mobile gaming.
Netflix eliminated 70 positions in animation and more in its social media and publishing departments. The streaming company may soon expand into live streaming amid a disappointing quarter.
Candle Media, the firm run by ex-Disney execs Kevin Mayer and Tom Staggs, bought social media creative company ATTN:.
L.A.-based cannabis enthusiasts and virtual reality fans are creating unique communities in the metaverse.
TV networks are bracing themselves as streaming services go after their bread-and-butter: advertisers.
Snapchat’s new “Family Center” may soon allow parents to see who their kids are talking to. It's new developer guidelines, aimed at protecting young users, have been in effect since March, but a new report finds some third-party apps on Snap’s platform have not been abiding by them.
TikTok is reportedly testing out a new video game feature in Vietnam. The social network is also rolling out an advertising program that will allow brands to crowdsource content from creators.
Texas wants to allow residents to sue companies if they believe they experienced political censorship.
Social media companies have long grappled with dangerous challenges on their platforms, but the "blackout" challenge has been particularly destructive; it's already been blamed for at least five deaths.
Surf Air’s goal is to completely neutralize air travel emissions while cutting operating costs by half.
Aptera says its three-wheeled solar-powered vehicle, or “autocycle,” has already secured 20,000 pre-orders. It hopes to begin delivering cars by the end of the year.
Rivian is facing potential production delays of an electric vehicle fleet of Amazon delivery vans.
Rivian recalls some of its R1T trucks for faulty airbags.
Jack Rolo founded Polygon, a diagnostics startup with the goal of better diagnosing dyslexia, ADHD and other learning-related disabilities.
Greater Good Health raised $10 million to help ease a growing shortage of primary care physicians.
Catch up on SoCal fundraising and career news from the past week in this week's Raises and Moves round-ups.
Jumpstart Nova’s Kathryne Cooper says the pandemic was a wake up call about the disparities in the healthcare system, especially for people of color.
Farmgirl Flowers CEO Christina Stembel had trouble bringing in investors who couldn't see past the fact she didn't have a college degree. So she funded the company herself.
Thinking of starting your own business? Blenders Eyewear founder Chase Fisher says bootstrapping is the best way to learn what you’ll need to succeed.
Have a new idea for a startup? Zillow co-founder Spencer Rascoff has some suggestions on how to name it.
U.S.'s lax privacy precautions around tech could endanger women seeking info about abortions.
Pasadena wearable biosensor startup Rockley Photonics is ramping up production, even as its stock takes a hit from disappointing quarterly earnings.
----
Like what you see? Get the day's tech and startup news from L.A. delivered to your inbox; sign up for our daily newsletter in the preferences below 👇