Mauled by the Markets: After Investing in Companies at Sky-High Valuations, Some Venture Capitalists Now Have Little Hope of Making Good on That Cash
Eras end differently. Some violently slam into a wall, as with the dotcom crash or the 2021 collapse of the cryptocurrency market. In both cases, trillions of dollars were vaporized quickly, with all the attendant drama one might expect. Other eras close in a more genteel fashion, when everyone quietly agrees that what once was no longer is, and adjusts as quietly as possible.
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