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Venture capitalists face an internal reckoning to rebuild the foundational theories and ways of work that made the asset class popular now that economic winds have turned.😭
African investors are not immune to downturn dengue. But they do have to shed the herd instinct that brought the venture capital asset class to this moment.
Being a tech founder can mean "living the life". But it can also mean "living in the trenches until you can hit it big—or not.
The price of relying on fluffy narrative, groupthink and learning from teachable moments is millions of investor cash.
Smallscale modern retail in Africa will not completely replace open markets in Lagos, souks in Cairo, or storied markets like Karatina in central Kenya. But a subtle shift that can become a major marker of African retail is underway.