Edward Conard

Top Ten New York Times Bestselling Author

  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.” - Tyler Cowen, Professor, George Mason University
  • “Unintended Consequences represents the most cogent and persuasive analysis of the Financial Crisis to date.” - Andrei Shleifer, 1999 John Bates Clark Medal Winner
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “There are an amazing number of good ideas and interesting points made in Unintended Consequences. The thinking underlying it, and the obvious depth of understanding of the author, are very impressive.” - Steven Levitt, coauthor of Freakonomics; 2004 John Bates Clark Medal
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
Upside of Inequality Oxford Unintended Consequences

AI Summary. US investors financed 3,011 startup funding deals in a quarter, about a third fewer than a year earlier, and spent $39.8bn, down by nearly half. The steepest decline came in angel and seed deals, an early-stage category considered critical to the venture ecosystem, where the number of deals halved.

Sarah McBride Bloomberg
Date Posted:

The number VC funded startup deals in Q2 2023 was down a third vs. Q2 2022, with total deal value down nearly half. @markets

Is US venture funding falling most sharply at the earliest stages?

Core argument: US venture capital investors spent $39.8 billion across 3,011 startup funding deals last quarter, with dollars down by nearly half and deal count down about a third from a year earlier, according to PitchBook.

In the US, investors financed 3,011 startup funding deals last quarter, about a third fewer than a year ago. And they spent less cash: $39.8 billion, down by nearly half from the same period last year. Take out the more than $6.5 billion investors spent on payments company Stripe, and the total looks even worse, said PitchBook analyst Kyle Stanford. The biggest drop came in angel or seed deals. In that category, there were half as many funding deals as there were a year earlier. Those early funding rounds — when young companies are either nurtured or starved — are generally considered to be critical to the health of the venture ecosystem.

Takeaways by Macro Roundup® AI

  1. US venture capital investors spent $39.8 billion across 3,011 startup funding deals last quarter, with dollars down by nearly half and deal count down about a third from a year earlier, according to PitchBook.
  2. Angel and seed deals posted the biggest drop, with half as many funding deals as a year earlier, a category generally considered critical to the health of the venture ecosystem.
  3. Excluding the more than $6.5 billion investors put into payments company Stripe, the quarterly US venture total looks even worse, said PitchBook analyst Kyle Stanford.
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