I'd claim that most folks here aren't directly in this area and couldn't care much. The mostly quiet majority I would call us. And recession? It won't be started by this but bigger forces. A correction might be even healthy for most in long term.
I respectfully disagree, I think there is a massive trickle down economics affect going on even if it’s just local. The auxiliary companies selling into startups is HUGE from recruiting agencies, design firms, the gig economy, local tax revenues, commercial real estate, law and accounting services, one medical offices, and much much more. When VC funding slows down a lot of these places will shutter (because few people in management ever prepare for a downturn).
I don't think a smaller number of dumb startups will have much negative impact, considering the huge numbers of highly paid employees the giant "fang companies" have.
Except when the FAANG company revenue turns out to be driven by the same fake money faucet.
What fake money faucet? The big tech companies have tons of paying customers, and tons of net income increasing at tremendous rates with tremendous moats.
Huge portions of advertisements are being shown to bots without detection. I'd guess google's ad sales are 25% overblown given my analysis of it's bot detection products.
I don't spite or hurt SoftBank. I'm just pointing out the emperor has no clothes and is investing poorly. Bad investments by those with wealth hurt those without the most.