PitchBook: approximately 3,200 private venture-backed US companies, which had raised a combined $27.2B in VC funding, have gone out of business in 2023 (Erin Griffith/New York Times)

Erin Griffith / New York Times:
PitchBook: approximately 3,200 private venture-backed US companies, which had raised a combined $27.2B in VC funding, have gone out of business in 2023  —  After staving off collapse by cutting costs, many young tech companies are out of options, fueling a cash bonfire.

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