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We read interest rates and credit markets and tell you when to pause or resume hiring, spending and fundraising. Updated every Monday, with an email the day a line is crossed.

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Share this week's guidance, Week of Oct 26, 2026

Paste it into Slack, a meeting doc, a ticket or a letter. Every format carries the same pause and restart lines and names its source: fred.stlouisfed.org.

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This week's readings

  • Conditions held steady since Sep 30; no pause or restart line was crossed. The guidance stands.
  • Funding pressure 90 of 100 (money is hard to raise) · pause line 76 · past the line · was 90 on Sep 30 · restart line 66 (24 pts away)
  • Risk appetite 55 of 100 (investors are selective about risk) · pause line 44 · 11 pts away · was 56 on Sep 30 · restart line 54 (already met)
  • What moved the scores since Sep 30: risk appetite -1 (all from the yield curve).
  • Not counted: risk appetite -11 from startup-market inputs.

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The guidance and its lines, in a short post people can skim.

Slack post · how it reads in SlackReady to paste
Whether Weekly Brief — Oct 30, 2026
Guidance: Conditions are tightening. Protect the revenue you already have, and hold off on new bets until money gets cheaper. • Pause if: Funding pressure is above 76 or risk appetite falls below 44. Funding pressure is 90 now. • Conditions change if: Funding pressure falls 20 pts from 90 to 70 or below, or risk appetite falls 5 pts from 55 to 50 or below. • Watch this week: Funding pressure < 66; Risk appetite < 44
Funding pressure 90/100: money is hard to raise · Risk appetite 55/100: investors are selective about risk · Cloudy Source: FRED · data as of Oct 30, 2026 · margin: clear of the line · scored on the same data we used for past months Full brief: https://whether.work/brief/2026-w44?ref=share
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*Whether Weekly Brief — Oct 30, 2026*
> *Guidance:* Conditions are tightening. Protect the revenue you already have, and hold off on new bets until money gets cheaper.
> • Pause if: Funding pressure is above 76 or risk appetite falls below 44. Funding pressure is 90 now.
> • Conditions change if: Funding pressure falls 20 pts from 90 to 70 or below, or risk appetite falls 5 pts from 55 to 50 or below.
> • Watch this week: Funding pressure < 66; Risk appetite < 44

Funding pressure 90/100: money is hard to raise · Risk appetite 55/100: investors are selective about risk · Cloudy
Source: FRED · data as of Oct 30, 2026 · margin: clear of the line · scored on the same data we used for past months
Full brief: https://whether.work/brief/2026-w44?ref=share

Files and images for a deck or a thread

This week's board slide: the guidance, its pause line and what would change it, with both scores under them.

Board slide

One slide: the guidance, its pause line, its change lines and both scores, drawn for a Series A company (the stage you picked on the brief).

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This week's brief card: the guidance and both scores against their lines.

Brief card

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A PNG for a thread, a Slack post, or anywhere an SVG will not render. The same stage, sector and ticker settings as the brief apply to its link.

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Download editable graphics for conditions, operating areas and decision lines, plus chart and presentation templates in both themes. Each example is labeled so you can replace its sample values with your own reading.

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A snippet that shows what to do this week and what would change it, updated weekly.

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This week's conditions in one word, for a README, a data room, or an investor page. It changes when the conditions do.

Startup conditions this week, from Whether
[![Startup conditions this week, from Whether](https://whether.work/api/badge)](https://whether.work/)
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