Journal from Leaft’s Co-Founders – March 2023

With the news of the SVB bank run two weeks ago, it was a tumultuous moment to be getting on a plane to the US and the fear that a good chunk of our agenda might be at risk.?While our agenda was not disrupted, we certainly felt the change in the air, not just in banking but also in the uptick of performance expectations for young companies and the extra rigour being applied to investments by VCs.

New York is still a blast, but the challenges with creaking infrastructure and the impacts of the opioid epidemic are in plain sight.?Masks and covid protections were still very apparent and we came across some empty offices and tougher times than the busy streets suggested.

Silicon Valley was the next stop and things were definitely more open for business than what we saw on our last trip, but still plenty of empty shops, offices and car parks.?We got the sense that the rolling impact of the banking crisis on top of the remaining covid impacts could last a while.

It was energising to be at the centre of a huge amount of innovation in the food and drink space and to connect with many people working to achieve bold outcomes across many areas of the supply chain. Not gonna lie, it was also pleasing to see where our own progress was sitting in relation to others.?We are super lucky to have Khosla Ventures alongside us and are feeling the benefits of their network and support.

Back in time for the SailGP – what an event!?So proud of ōtautahi Christchurch and the stunning amphitheatre of Te Whakaraupō.?

Signing off,

Maury Leyland ?& John Penno