The last year has been tough for founders seeking funding. Pre-pandemic, venture capital funding was plentiful, and startup and DTC brands were able to achieve massive growth based on that funding without reaching profitability. At Shoptalk 2023 in Las Vegas this week, brands and investors alike reckoned with the reality that it’s the end of that era. Just as consumer spending is falling, investors are now much more focused on profitability and immediate returns.