Bill Gurley says Silicon Valley's unicorn fantasy is collapsing in on itself

Thanks Chris Z for this: "Top tech dealmaker Bill Gurley has a dire message for Silicon Valley: The unicorn fantasy is unraveling. Fast." 

“There has been a fundamental sea-change in the investment community that has made the incremental Unicorn investment a substantially more dangerous and complicated practice,” Gurley writes in a 5,500-word essay. “All Unicorn participants—founders, company employees, venture investors and their limited partners (LPs)—are seeing their fortunes put at risk from the very nature of the Unicorn phenomenon itself.”

Bill Gurley's Direct Essay Link


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