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Hi Sifted reader,

This week we're delighted to introduce a new member of the Sifted team: Clara Rodríguez Fernández is going to be taking on the deeptech beat. She'll be based in Berlin and reporting on everything from drug discovery and quantum computing to metaverse misadventures. Got a story, scoop or tip? Get in touch with her at clara@sifted.eu!

In today's issue:

• Does the data show we're in a downturn?
• A short history of Klarna's valuation
• How to give a winning demo day pitch

— Alex, writer & Tom, digital editor

Salary transparency is often lauded as a vital way of challenging pay gaps and attracting new hires. But some startups are going one further and letting staff pick their salary themselves.

By letting everyone research the market, present a business case for their chosen salary and have their peers give feedback, startups like Ragnarson argue that it makes pay as fair as possible.

But does it really work?

Building a remote-first business isn’t easy, but it can give startups a competitive edge. On August 17 we’ll reveal how to onboard your first global hire — and how to avoid conflict between office and remote workers.

Don’t miss this!

It would've been a tall order for 2022's VC investment levels to match the pace set by 2021, which broke every record in the book. But the level of drop-off has investors and founders worried that we could be staring down the barrel of a downturn.

Falling public share prices and down rounds for some of Europe's biggest startups are causing jitters, while strong rounds at Series A and below are settling some nerves. But scanning news sites isn't enough: what does the data say?

We crunch the numbers to find out.

Klarna has been the poster child for European tech for years, growing from humble origins in Stockholm into a household name. Years of success and international growth paid off when it hit a valuation of $45.6bn last year, becoming the world's second most valued private company.

But that's all changed now — amid the public market pinch, it was only a matter of time before private startups felt the bite too. Klarna has been the biggest name to succumb so far, raising a down round at barely 15% of its peak value.

We chart the fintech's journey from small fry to whale — and back again. 

At the end of accelerators like YC and Entrepreneur First you have demo day: the fateful event where you can have as little as 60 seconds on stage in front of hundreds of investors to pitch your nascent startup.

Arosha Brouwer took her wellness platform Quan on stage at the end of her 10-week Y Combinator session — and secured seed investment soon after.

Here are her top tips for putting together a killer pitch.

Sifted Summit 2022 | London | October 5-6
The agenda is live! We’re covering the topics and trends every startup operator needs to know across four incredible stages. Think sextech, D&I, soonicorns, NFTs, workplace culture and so much more.
Limited early bird tickets available now!

FT Weekend Festival | London & Online | September 3
This autumn, the FT is back with an eclectic line-up of speakers and subjects. Hear from leading authors, artists, entrepreneurs, politicians, chefs and designers at Kenwood House Gardens. Apply the code SIFTED to receive £20 off.
Get your ticket here.

Humanity had burned through all the resources the Earth can replenish in a calendar year by July 28 this year. And over time what's know as Earth Overshoot Day has moved forward in the calendar at an alarming rate.

But in a recent Sifted oped OLIO's Tessa Clarke — who's speaking at the upcoming Sifted Summit — believes tech founders are well-placed to help bend the arc of consumption back the other way.  

And it's not the only oped she's penned recently for Sifted. Here's the pick of the bunch:

🪳 Founders, what’s your cockroach plan?

🦁 Forget KPIs, there’s a new goal startups should focus on — and it’s hairy as hell

🙅‍♀️ Female founders need money, not more mentoring

Elsewhere on Sifted...

🌟 At the peak of the dotcom bubble, a new research facility brought together the brightest scientific minds in Europe and tried to turn their ideas into world-beating companies. That facility was Starlab. It collapsed after the 2000 crash but the idea lived on — and was recently reborn in a sunny observatory in Barcelona, where a new generation of researchers are bringing their ideas to life. 

🎙️ In the latest episode of The Sifted Podcast — for the first time brought to you from our very own studio (!) — Eleanor and Éanna chat about Gorillas' surprise raise and a massive funding round for social care tech. Listen here, or wherever you get your podcasts.

Alex Oscroft

Subeditor

Get in touch with him at alex@sifted.eu

Or find him on Twitter @alex_oscroft

Tom Nugent

Digital Editor 

Get in touch with him at tomnugent@sifted.eu
Or tweeting at @TJNugent92

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