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Today: July 14, 2024
July 1, 2024
1 min read

Seize this moment: Startup insights from IVP’s Tom Loverro

TLDR:

  • IVP general partner Tom Loverro predicts a “Great Reawakening” for startups.
  • He advises startup CEOs to set up performance-based budgets and invest in AI.

In a recent article by Fortune, IVP general partner Tom Loverro is urging startups to seize the current moment and capitalize on what he calls a “Great Reawakening.” Loverro predicts that the worst is behind us and it’s time for founders to be proactive. He emphasizes the importance of going out there, grabbing opportunities, and outperforming competitors.

Loverro’s advice for startup CEOs includes setting up performance-based budgets, focusing on AI-driven strategies, and swiftly adjusting investments based on success rates. He acknowledges the fear that still lingers in the industry after a wave of shutdowns in 2022 and 2023 but encourages startups to move past it and embrace a more aggressive approach.

While some may be hesitant to take risks due to past failures, Loverro points out that overcoming pain and challenges is inherent to the startup journey. He mentions examples like Podium, a small business-focused software company that successfully navigated tough times by making strategic changes.

One of the key insights shared by Loverro is related to the current AI frenzy in the industry. While some view it as a potential risk, he sees it as a natural part of the venture capital cycle. For Loverro, the obsession with certain technologies or trends is a recurring theme in the startup world, signaling shifts and opportunities.

Overall, Loverro’s message to startups is clear: it’s time to shift out of defensive mode, embrace the current environment, and be willing to take calculated risks. As the industry enters a new phase, founders must be prepared to adapt, invest wisely, and position their startups for success in a changing landscape.

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