Thursdays at Abnormal Returns are all about startup and venture capital links. You can check out last week’s links including a look at why the pandemic is great time to start a new company.

Quote of the Day

"Business quality is about defensibility. Defensibility comes from moats. And while high gross margins are often a reflection of moats, they are not a moat in and of themselves."

(David George and Alex Immerman)

Chart of the Day

Startups are concentrating their layoffs among non-SF workers.