Week in Review: The old Vision Fund heave-ho

Hey everyone, welcome back to Week in Review where I dive deep into a bit of news from the week or just share some thoughts and go over some of the more interesting stories of the week. If you’re reading this on the TechCrunch site, you can get this in your inbox here, and follow…

Week in Review: The old Vision Fund heave-ho

Hey everyone, welcome back to Week in Review where I dive deep into a bit of news from the week or just share some thoughts and go over some of the more interesting stories of the week.
If you’re reading this on the TechCrunch site, you can get this in your inbox here, and follow my tweets here.
The big story
The WeWork saga already led SoftBank to make headlines months ago when CEO Masayoshi Son urged portfolio companies to chase cashflow, but this was the week that the shoe dropped for plenty of startups and the layoffs commenced.
Getaround let go of 150 employees according to The Information.
Zume is planning to fire 400 people, Business Insider reports.
Oyo is firing “thousands,” Bloomberg reports.
Rappi is laying off 6% of its workforce, the company announced.
These are just the Vision Fund portfolio companies to announce layoffs this week, in the past several months we’ve already seen restructurings at Fair, Wag, Katerra, Opendoor, Ola, Brandless, Uber and, of course, WeWork. Now, one batch of portfolio companies making a similar move does not a trend make, unless it’s SoftBank of course. It’s been a rocky year for late-stage startups chasing the public life. The less-than-rosy debuts of some of the decade’s most investor-adored startups has been embarrassing for plenty but Uber’s debut and WeWork’s near-implosion has been a pretty awful look for the Vision Fund.
On the positive side, in many w
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