PitchBook News - Female founders face pandemic hurdles

• The Bureau of Labor Statistics' headline number is 14.7% unemployment, but the BLS indicated the rate would actually be about 20% if the survey had fully taken into account workers temporarily laid off and other classifications.


• That data didn't fully count gig workers, furloughs and the many people who couldn't file claims because state offices were overwhelmed, which could suggest a rate as high as 30%, according to asset manager and markets commentator Barry Ritholz.


• True, the underlying US economy before the crisis was relatively healthy and growing, providing a foundation for a recovery after the shutdown. But an eventual reopening won't be easy in the face of continued social distancing, risk of contagion, cash-strapped consumers and many businesses being permanently closed.


• Far from a mere recession, the outlook hints at something more like a depression, which suggests lasting economic and societal consequences could be in the offing.


• Long-term change is also coming to the nation's work scene. It increasingly looks like many companies that are office-bound won't reopen any time soon, at least not in a normal way. A growing number of tech companies have found they can make do in today's work-from-home reality, and some employers are telling workers to plan to stay home until September or even through year-end.


• Many tech hubs and other big cities are getting ready for a world where fewer people are in offices at any given time. And how workers move about and interact inside offices will have a very different look, from wearing masks to doing away with open-plan spaces to one-way-only hallways. Once those changes take hold, they're not likely to revert soon to what we take for granted today.

—Alexander Davis

• A roundtable Q&A discussing the life sciences segments best positioned in the current market, optimal tactics for biotechs, and more
• Market analysis of datasets including venture funding by series and pre-money valuations
• Orrick's forecast for how the market will evolve in the coming year