Venture Capital

Facebook IPO Flop Leaves Start-ups to Tighten Belt

What hath Facebook wrought? In a letter to his stable of companies that he says wasn’t supposed to go public, Paul Graham, the influential head of startup incubator and angel investor Y Combinator, tells them to lower their funding expectations and to be more conservative in their spending. Reflecting on the underwhelming Facebook IPO and its possible effect on the startup scene, Graham writes: If it means new startups raise their first money on worse terms than they would have… continue…