The Crunch in Late Stage Financing

There's a huge, we've talked about before, but there's a huge crunch in late stage financing. It's only going to get worse over the next 18 months. I asked Brad last week, like how many of these zombie coins do you think there are out of the 1400? He said 30 to 40%. I think it could be 700 or zombie. And then the other 40% let's say how many of them have a down round coming? I think 60% go to zero of the remaining 40% half of them probably return money. Half of those maybe get one and a half X. The blended return of that entire stream of unicorns will be about 1.1 X