Seasoned Product Managers understand that change is a constant, and we can attest that the global macroeconomic and social landscape has experienced profound changes in the last four years.
The onset of the COVID-19 pandemic left indelible imprints on the global economy. In 2020, it triggered a notable decline in international trade while compelling a rapid acceleration of digital transformations across various industries. Subsequently, in 2022, the tech industry underwent a tumultuous period characterised by substantial layoffs at giants like Google, Meta, and Salesforce.
The repercussions of this downturn reverberated throughout the start-up sector, leading to a discernible impact on funding. According to KPMG’s Q2 Venture Pulse Report for 2023, investment plummeted to a mere US$1.1 billion, starkly contrasting the US$3.64 billion invested during the same period in 2022.
Consequently, we find ourselves adapting to evolving competitive environments and striving to thrive within them. Our goal is not just to weather change but to flourish amidst it.