The confidence game. When it goes to Zero

Over the last few weeks, some huge ($100m+) venture-backed collapses across Africa have occurred. Copia Global ($123m), Wasoko ($153m) venture building is a brutal full-contact blood sport. Raising and announcing capital isn't the flex. In Africa not having the option or rapid path to sustainability baked into your DNA is a major failure, especially for a decades-old startup, I have been saying for years that it needs to be at the forefront of your business development, because if a handful of investors change their minds and decide not to allocate capital to you any more. In the case of Gro Intelligence 12 years & $125m go to zero. Its their money, but as a founder it doesn't make it less scary, binary and brutally capital-efficient. As an investors I totally understand it. You have 50 bets, you are optimizing for the x100 outcome. For a founder who has been encouraged to pour your life into something for a decade its the most cruel outcome.

Many companies benefited immensely...

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