Extra Crunch Friday: Leading VCs discuss how COVID-19 is impacting real estate & proptech

Welcome to Extra Crunch Friday

I’m not smart enough to envision all of the potential effects the pandemic will have on society, but a narrow focus on a single issue helps me wrap my brain around some of the implications.

With that in mind, our latest VC survey gathered responses from six investors in proptech and real estate to learn more about the long- and short-term impacts COVID-19 is having on these sectors.

“Once the immediate adjustments are made, there will be winners and losers,” said Andrew Ackerman with Dreamit Ventures. Businesses will always require office space, “but the WeWorks of the world are in for tough times as struggling startups and small businesses look for cheaper (or free) options.”

To get a sense of these opportunities and hazards, we reached out to:

• Christopher Yip, RET Ventures
• Nima Wedlake, Thomvest Ventures
• Stonly Baptiste, Urban Us
• Merritt Hummer, Bain Capital Ventures
• Micah Kotch, Urban-X
• Andrew Ackerman, Dreamit Ventures

According to Baptiste, “real estate and proptech, in many ways, will never be the same, especially for startups.”

Thanks very much for reading Extra Crunch. Have a good weekend, and stay safe.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

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