The venture capital world is in the grip of a silent crash.
Unlike the stock market, there are no daily market indexes to broadcast the pain, and no individual share prices for anxious tech employees to watch as their personal wealth evaporates.
In fact, for many of the investors and entrepreneurs who have just lived through a historic boom in venture investing, it is even possible to pretend a crash isn’t happening at all. Loose rules that require only sporadic writedowns, the estimated value of private companies, have made it easy for many to turn the other way.
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