As a venture capitalist, I've had to recalibrate my investment strategy several times over the years in response to industry shifts or economic changes. One instance was during the 2008 financial crisis when many of the tech startups in my portfolio struggled due to a drop in consumer and business spending. I reassessed the risks and potential of each company and made the difficult decision to cut funding for some while doubling down on others with more resilient business models. For example, I stopped funding a retail software startup that was overly reliant on brick-and-mortar stores, but I increased investments in a fintech company providing fraud detection services to banks. The fintech startup thrived as financial institutions grappled with rising fraud risks, while the retail software company ultimately folded. Another time, I had to pivot my strategy in response to new technologies disrupting an industry. I began funding startups pioneering machine learning and automation which impacted several companies in my portfolio. I worked closely with management teams to reimagine their business models by incorporating new technologies to boost productivity and gain a competitive edge. Some were able to successfully transform themselves into AI-driven companies, while others struggled with the transition. Adapting an investment strategy to major market or technological shifts is challenging but necessary as a VC. The key is objectively assessing portfolio companies, trimming poor performers, and maximizing support for startups ready to benefit from--or withstand--industry changes. With the right investments and guidance, market disruptions can even present opportunities. But inaction often leads to missed potential and financial loss.