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WeWork and other top startups were cut down to size in 2019. This VC thinks 30% of the more than 400 other unicorns will soon see their valuations slashed too. (UBER, LYFT, WORK)

Silverton Partners General Partner Morgan Flager

  • Some of the biggest private or recently private tech companies — including Uber, WeWork, and Slack — saw their valuations slashed in 2019.
  • Dozens of other unicorns — private companies with a valuation of $1 billion or more — will suffer the same fate in coming years, predicted Morgan Flager, an Austin, Texas-based venture capitalist.
  • A flood of money into the private markets has bid up values of many startups to unsustainable levels, Flager said.
  • In some cases, investors have mistakenly identified companies as tech firms and assigned them sky-high values they arguably don’t deserve, he said.
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    Source:: BusinessInsider.Com