Collision tech conference attendees filtering through the doors of a Toronto convention centre on Tuesday faced a scene that looked a lot like the pre-pandemic event, but an uneasy atmosphere hung over the crowd.
“The global venture capital market is really at a pivotal moment after coming off of 2021, where there was record deal value, record exit value generated and record fundraising,” said Kyle Stanford, a senior venture capital analyst at data company PitchBook. While local mask and vaccine passport mandates were dropped in time for the sold-out event, Collision CEO Paddy Cosgrave anticipated many would forgo handshakes and take advantage of an expanded event space, including a new outdoor area with meeting spots.
“It’s just unbelievable, so what does that all mean for the wider sector?” he said. “Is this a good time to start a company? Is this a bad time to be raising? Is it a good time to be an investor?” “None of them have said, `Oh, no, I don’t want to be asked the serious questions,’ but things have suddenly come up Crypto’s leading lights are unwilling to answer tough questions. They’re just running for the hills.”
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