Conditions are tightening. Freeze new commitments and keep spend flexible.
Money is available but pricey.
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 3 pts from 53 to 50 or below.
How willing investors are to fund risk this week, for pacing hiring and growth spend.
Data as of
Oct 26, 2026
Sources
All sources live
Margin
Risk appetite 3 pts from Freezing · Could change next week
Scored on
The record's inputs · startup-market inputs left outStartup-market inputs would put risk appetite at 42, below its change line. They're left out because their data doesn't go back far enough to check against past months.
Risk appetite is derived from the recession warning gauge, and the gauge also feeds funding pressure. A move in the gauge shows up on both watches at once, so treat them as one reading rather than two confirmations.
What this changes: The lower it runs, the more of any new hire or growth spend should be reversible within the quarter.