Pear's bankruptcy sent shock waves not only through the medical industry, but through the entire startup world. It was a bolt from the blue, as the company had received FDA approval, doctors had begun prescribing the drug, and everything seemed to be going smoothly. Now, companies are paying the price for overlooking this basic principle: "Make a profit, then expand."
By 2020, D2C had been growing rapidly in the US, and lockdowns seemed to be a tailwind. However, in reality, the more successful D2C companies were, the more they expanded into brick-and-mortar stores, forcing them to close.
The world has begun to explore the "new normal," and methods for working and living without going out have evolved over the years. Fortunately, smartphones were widespread before the pandemic, and digital transformation for consumers was complete, but it is said that digital transformation for companies has been accelerated by several years.
2021 saw a surge in VC investment, leading to rapid growth for many tech startups. In 2022, the economy will slow down, leading to employment adjustments, and with the end of the pandemic, many companies will reach their peak.
The strongest tech giants are no exception, and are preparing for the next wave of change by reducing overemployment and shifting from top-line management to the pursuit of profitability. No matter what form a company takes, as long as it survives in the market, it is not a "failure" but an "adaptation to change."
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