Benchmark’s Venture Capitalist Gurley: ‘Private Valuations Are Fake’

We're seeing a lot of anti-unicorn sentiment recently. In addition to Gurley's comments here, Sequoia's Mike Moritz wrote an op-ed saying most unicorns are a joke [1]. And today's Wall Street Journal has a page one article about how tech IPOs have become all but impossible because private market valuations are so much higher than what public investors are willing to pay [2].

It all begs the question: what's happening?

[1] http://www.businessinsider.com/sequoia-capitals-michael-mori...

[2] "Tech Startups Feel an IPO Chill" http://www.wsj.com/articles/tech-startups-feel-an-ipo-chill-...