One of the first questions an investor asks a startup is “what’s your runway?” It’s a simple question, but it can reveal so much about the company and its founders. First and foremost, do the founders know what a runway is and can they calculate it?* …

We are about to pass the 6 month mark on life with COVID. We have sewn our own face masks, perfected our sourdough starters, fostered a shelter animal, and found our favorite Zoom virtual backgrounds during this time. Despite these changes, many held a small hope in the back of their minds that life would go back to “normal” sooner rather than later. Labor Day became the magic, albeit arbitrary, threshold for making big decisions about how to survive and function in the long-term. Well, Labor Day is fast approaching, and it is clear that there will be no vaccine and no approved treatments anytime soon. It’s time for startups to face the music — this new reality is here to stay. Read more….