The absolute bloodbath of VC funded companies with weak fundamentals is finally catching up. Peloton, Robinhood, WeWork, Opendoor, Clover health, and countless others with major layoffs, stock down 60-80%, no profitability or sustainable business model in sight.
My back of the envelope calculation suggests that over the last decade $200-300bn has been spent by VCs on startups, led by Softbank. And with very little to show for it. 95% of tech revenue, profit, and market cap is dominated by MSFT, Apple, Google, Facebook, and Amazon - companies that took very little to no VC funds.
Just makes me ask what a world with little VC influence will look like. Will most likely be more resolute companies and founders building more sustainable businesses who take on this big 5.