Good morning, All,
In case you missed it, the subject line is a reference to a song by Prince. A lot of attention is being given to the number of tech companies that have hit unicorns status (Total Number of Unicorn Companies: 119. Total Cumulative Valuation: $448B) and the number of angel investors/the fact that there’s too much money out there right now. The reason why the first bubble burst – and we’ve said it before – was that there was too much money/stupidity chasing too much youth and inexperience. What to speak of the number of newly minted and thoroughly clueless investors in the field, suffering from FOMO Syndrome. Brian Cohen almost never fails to mention this lately – and for good reason.
We've seen this before