As if early-stage companies didn’t have enough to contend with coming out of the COVID-induced hangover of the last two-plus years, the Trump administration’s 2025 reciprocal tariff regime and its abrupt pause have dropped a proverbial turd in the punchbowl. While hardware companies braced for part-deux of the 2018 Chinese tariff program, software stocks were hammered. And the market has yet to factor in the 2^nd and 3^rd order effects these tariffs unleashed. 

As we enter 2025, the venture capital landscape continues its reset, shaped by the transformative impact of artificial intelligence and the lessons learned from the market conditions of 2024. In this blog post, I examine the emerging trends and key takeaways that I believe will define the year ahead for both investors and startup founders.

In the fast-paced world of startups, a new era is upon us—a return to the "grinder" CEO. This is not the passive figurehead basking in the glory of on-camera media interviews, guided Ayahuasca trips and unicorn valuations - while letting teams handle the dirty work. No, this is the CEO who rolls up their sleeves, digs into the trenches, and hustles harder than anyone else on the team.