O impacto da taxa de desconto no cashburn das startups

Abstract

This thesis aims to investigate the impact of the discount rate on the cash burn of early stage startups. The study is motivated by the growing importance of startups in the global market and the need for efficient financial management to ensure their sustainability. Based on a quantitative approach, financial data from two nowdays inicial startups, which won’t be named, and two famous ones - a successful and a failed one - were analyzed to evaluate how different discount rates influence the speed of capital consumption, or their runway. The results show how the discount rate reflects the cost of capital and its associated risk, affecting the company's valuation, fundraising, financial planning, and investment decisions. The higher the discount rate, the greater the cash burn due to the increased cost of capital and difficulties in fundraising. It is concluded that efficient management of the discount rate is essential to ensure long-term financial sustainability for startups. Thus, this study contributes to the literature on startup finance, offering insights for entrepreneurs, investors, and the interested public