- 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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