/1 Last week, we sent a letter to our Lightspeed Founders and LPs announcing a new family of funds, where we talked about our belief in entrepreneurs, not just in good times, but in all times: https://medium.com/lightspeed-venture-partners/believing-in-entrepreneurs-not-just-in-good-times-but-in-all-times-d5e010dca90a.

/2 The announcement comes at a time of uncertainty for all of us. I’ve been sharing some of my insights on the post-COVID world with the Founders and companies I work with daily, and was encouraged to share them more broadly with the intent of providing some guidance...and hope.

/3 In this environment, Founders need to anticipate where things are heading, instead of waiting for events to overtake them. If you haven’t already done so, examine your company’s business model, and formulate new strategies to adjust.

/4 Sometimes adjusting means acknowledging the reality. The coronavirus outbreak has & will continue to impact the startup ecosystem, from layoffs to shutdowns. @henrysward @cartainc (a @lightspeedvp portfolio company) took a very thoughtful approach: https://rb.gy/o5iuj9 .

/5 If companies need to shift from one operating model to a new one, there is capital required to help with that transition. Investors should have the foresight to prepare for this scenario in advance, and carve out the capital necessary to be able to support it.

/6 This means Investors, like the Founders they support, have to be creative and think outside of the box. If you have the same investment strategy or company building strategy now as you did pre-COVID, you’re going to have a difficult go of it. Accept the need to change. Now.

/7 In today’s environment the velocity at which investment decisions are getting made will slow. @lightspeedvp developing high conviction that Founders are committed to build with both ambition & the durability to succeed through & beyond the downturn is more important than ever.

/8 When we look back, this is a period that will be viewed as a separating time. The survivors will be the Founders who are clear-eyed leaders, committed to the challenge of building a business in these times, adopting radical change in this new world where nothing is a given.

/9 Ultimately, both Investors and Founders need to take a long view right now and make this moment of crisis also the moment of opportunity. We think now is a great time to double down on Founders who have this view & want to build durable, independent businesses.

/10 And this is a time when the vintage of companies that are born could ultimately be incredibly successful. That is the vision and the hope I hold for the post-COVID world.