Some interesting links we found across the web this week:

Startups — Here’s the One Sentence You Need to Grow
It isn’t always enough for a startup to grow financially; a startup should also think about what its broader purpose is. Having a well-defined purpose or mission statement can help both entice investors and attract and retain talent. This piece from Sifted not only observes some of the benefits that articulating such a purpose brings, but also provides advice for how to contemplate a startup’s purpose and crystallize it into an appropriate statement of purpose.

16 Successful Entrepreneurs Share Advice They Wish They’d Been Given When Starting Their Companies
Learning from other entrepreneurs and their experiences is a vital source of knowledge for anyone looking to start their own business. In this piece, 16 FastCompany executive board members share the advice they wish they received when starting out.

Is the SPAC Boom Fizzling Out?
Special-purpose acquisition companies, or SPACs, are companies which raise capital through an initial public offering, then take a private company public by merging with it. Although the popularity of SPACs exploded in early 2021, this momentum has largely subsided. This Crunchbase article not only explains some of the basic features of SPACs, but also explores some of the reasons for the slowing SPAC market.

A New US Bill Would Force Companies to Disclose Ransomware Payments
The number of ransomware attacks—cybersecurity events in which malicious software encrypts or blocks access to data or computer systems until the victim pays the attacker—has risen so dramatically over the last several years that the United States government is beginning to respond. This TechCrunch article profiles the Ransom Disclosure Act, a new bill being considered by Congress that would require companies and organizations to self-report data on ransomware payments to the Department of Homeland Security.

Why Raising Corporate Venture Capital Benefits Startups
Fundraising sources include not just traditional venture capital funds, but also other sources such as venture capital arms of businesses. This Entrepreneur article helps explain why funding from these corporate venture capital sources is growing in popularity.