2min chapter

Equity cover image

Charting the future of the early-stage venture market with Carta’s CEO

Equity

CHAPTER

The Decline of the VC Market

The last decade of zero interest rates and kind of boom times, the big mistake was all revenue and growth was considered equal. You saw transactional businesses with low gross margins trading on revenue multiple. And then when the market recorrected, what you could see was people were trying to figure out how to value different types of revenue. It will take time to unwind; snowflake is now trading at different multiples than transactional businesses.

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