Some skepticism from investors is good, more due diligence re: valuation is good. This is a pretty mild correction overall, which is good for everyone.

I'd be much more worried if Fidelity were snapping up startup shares at ever-higher valuations without ever reckoning actual performance.

As people who work in the industry, this might mean a mild slowdown in hiring as funding becomes a bit more difficult, but it also may prevent the catastrophic alternative which is the bottom falling out from under us and massive tech-sector unemployment.

Personally I think all of these recent announcements are good for startup employees. For the last few years some of us have been expressing a lot of skepticism about the real value of startup options and how much they can realistically exit for. Between valuation write-downs like this, and the face-plant IPOs of the last couple of years, I think people are starting to see the true value of startup options and I hope it results in people being much more discerning about how they're being compensated.