Report: Coronavirus may lead to mass extinction of tech startups worldwide

Coronavirus will have devastating effect on startups, causing a drop in venture capital funding across the world, eradicating many businesses altogether, and making government intervention necessary. That’s according to Startup Genome’s ‘Governments, Don’t Let your Startups and Scaleups Die’ report, which states that the recent drop in venture investments in China will help predict what will happen in Europe and the US. “While it took four quarters for the US Series A and B venture investments to drop from their peak by 30 to 48%, a few weeks ago we had already documented a drop of 50% of Chinese Series A investments.…

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