San Fransisco, CA – In a shocking turn of events, startup accelerator “Y Clownbinator” has announced that they will no longer be investing in late-stage startups. As a result, they will be laying off 20% of their staff.
“We feel that late-stage startups have enough money to fund a circus,” said CEO Gabe Newclown. “We’d rather invest in early-stage companies that need our help to really get their acts together.”
The layoffs are expected to hit hard, affecting employees such as Ringmaster Manager Bobo Juggles and Senior Jester of Operations Chuckles McLaugh-a-lot.
“I’m devastated,” said McLaugh-a-lot. “I’ve been with Y Clownbinator for over 5 years, and now I’m being thrown out of the ring.”
While the news is certainly no laughing matter for those affected, many in the tech community are finding humor in the situation.
“I guess they finally realized they can’t just keep throwing money at every clown with a startup idea,” said tech writer Biff Bozo. “Maybe now they’ll focus on companies that don’t involve juggling chainsaws.”
Y Clownbinator has yet to announce any new investment strategies, but insiders say they may be looking into funding circuses and magic shows instead. “Who knows,” said Newclown. “Maybe we’ll even invest in a prank supply company. The possibilities are endless.”
