Is attending networking events part of your GTM and is it worth the (time) investment?

It depends on your GTM strategy. If you are trying to target your customer directly (e.g. startup founders) and there are networking events specifically for startup founders, probably a good idea as a part of a founder-led sales strategy! Don't put all your eggs in one basket. Experiment. Choose different types of events, attend in a scrappy way (don't purchase a huge sponsorship, as an example), and determine what you got out of it. If you were able to secure high-quality leads or build relationships, probably something worth investigating. If you are attending networking events for other reasons (e.g. build press by meeting journalists or meet potential partners), just make sure that the right type of people are at the event.