Those Companies Are in for a Ruin

The founders got trained on those conditions. They thought that capital would always be this available at high valuations and it's not. These develop this habit of going out and raising around every year or 18 months. And so they thought that all this money they raise, they could just burn over the next 18 months,. But those companies are in for a rude awakening because if they can raise it all, it's going to be an evaluation that might be 80% lower.

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