The situation next year is not optimistic.
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Editor’s note: Starting in 2015, FirstRound, a venture capital agency, surveys startups every year and then submits a report on the status of startups. According to this year’s report, founders ‘concerns over next year’s bubbles will intensify, financing will become more difficult, and employees’ concerns about diversity and inclusion are increasing, and the importance of compensation is not as high as you think. . The original article was published on the first Round website with the title: State of Startups 2019
Since it started as an experiment in 2015, it has been a tradition of First Round to produce a report on the status of startups every year, and it has now reached its fifth year. Now, this has become the largest data set on the operation of startups, with 3600+ submissions and more than 190,000 data points.
Since our first survey, the world of start-ups has changed dramatically-from the rise and fall of market trends to the role of diversity, tolerance, sexual harassment, corporate culture, and technology in society Important and evolving conversations.
Employee. Where do the founders and employees agree and disagree? Where have leaders made progress-what did the founders feel deficient? A total of 950 questionnaires were submitted to provide us with the most detailed information on the operational challenges of start-ups. In addition, the report also incorporated new perspectives on the truth behind Glassdoor reviews, pay packages, and remote office.
We hope that these main questions, fresh questionnaires, and supplementary views will allow us to provide a deeper understanding of the company builders’ ideas, feelings and values as we enter 2020. Here are some of these important or counterintuitive trends and insights:
1. The founders are afraid of bubbles-the concern over this issue has reached its highest point in 4 years
Of the founders interviewed this year, 2/3 believe that we are in a tech company bubbleamong. This is the highest percentage since 2015-a 12% increase from 2018 and a 25% increase from 2017.
2. The founder expects financing will be more difficult in 2020.
In the 2018 survey, the founders were optimistic about the coming year. Only 44 % believe that venture capital financing will become more difficult, and only 46 % believe that investors will regain the upper hand.
But this year ’s respondents ’forecasts are even more bleak. 65% of the founders believe that financing will become more difficult in 2020, and 70% predict that the balance of power will shift to investors.
3. Sexism in recruitment is already bad, but sexism in financing is even worse.
40 % of female employees report that their gender has hurt their employment in the technology industry or their role.
If you are a founder, the situation is even more difficult: 70 % of female founders feel that their gender has damaged their financing ability.
4. Didn’t give priority to diversity? Employees will vote with their feet
80 % of the founders believe that having a more diverse team will have a direct positive impact on the values of their startups.
This is no longer an option for employees. Employees who believe leadership has not prioritized diversity and inclusion are 3 more likely ( 34 % vs 11 %).
5. Half of the founders didn’t believe Glassdoor’s comments-but employees did.
When asked about reviews of your company by websites like Glassdoor, only 53 % of the founders said the reviews were accurate. The percentage of employees agreeing to reviews is much higher- 80 % of employees feel that reviews of their company reflect the real situation.
6. The importance of compensation is not as high as you think
Only 1 in 10 employees said that cash or equity compensation was the main reason they joined the company. Only 1 in 20 founders stated that equity played a major role in selling to applicants.
What are the top options in the employee wish list? Ability to make an impact (55%), problems being solved (42%), mission (40%), Team (39%), and culture (30%).
7. The founder questioned the benefits of working from home, but the staff supported.
Only the founders of 15% intend to show their attitude that remote work makes their team more efficient. But employees are loyal advocates of working from home-employees who think that working from home is more efficient are 3 times (41.4%) of the founder’s data.
Nevertheless, founders who occasionally work remotely are more than 6 more likely to have a positive view of the same thing about their employees.
8, don’t want to increase the pressure, but the CEO should feel that pressure
When employees lack confidence in the CEO, their confidence in the company’s ability to exit with 1 billion US dollars + will also be reduced by 3 times, and the probability of leaving the company within 1 year is high 5 times, the probability of not exercising the right is 6 times, and the probability that the company will fail because of culture or team is 2 times.
It is worth noting that only 25% of the CEOs interviewed are currently working with executive coaches.
9. Mental health is important-but there are differences in who to look for in different groups
When we asked the founders which experts they would often find, female founders said that they were generally twice as likely to ask a therapist or psychiatrist than men ( 42 % than 15 %). We compared founders under 40 and over 40 who found similar differences ( 28 % versus 16 %).
10. The community is a new moat
Almost 80 % of the founders reported that building a user community is very important to their business, and 28 % described it as their own moat, Important.
Translator: boxi.