Baffled by the restrictions and sensing a race against the clock until they run out of cash or the program does, small businesses are scrambling to apply for government-backed loans to keep their companies afloat.
The requirements are especially confusing for venture-backed companies, many of which could be excluded from help under the original working of the $2 trillion stimulus package signed into law last week in response to the Covid-19 pandemic.
Let's call this the 'lede' and not bury it: I'm a co-founder, father, partner, community member and I've got a lot going on in my head right now. This piece serves as a rapid-fire, stream of consciousness glimpse into my mental montage, which at times shifts swiftly from Boschian fear-scapes, to gallows humor, to intentional positivity to give the vagus nerve the stimulus it needs right now.
These are scary times for investors and founders. A record bull market, more than a decade of ballooning valuations, and an ever expanding roster of venture capital deals of varying stripes all came to a screeching halt this month as the coronavirus pandemic spread across the world and brought the economy to a standstill.