This is my take on it. Everyone went crazy on hiring. Nothing is crashing, it's just the market returning to normal. Well, except for Meta. They're having a bad time lol.
You should see the financials from some Indian unicorns that raised hundreds of millions in 2020-22. $5-6M in revenue, $50M in expenses. No money anywhere.
VCs were way too exuberant and founders were more than happy to mop up the capital.
And here I was, working with a startup that had difficulty landing $500K. It was my first foray into being a founder, but I learned that I do not understand the investing landscape at all.
Matt Levine of Bloomberg has a quote about Adam Neumann that is just... amazing. It's about selling in a sellers market and basically about how he sold We Work shares to Softbank (and taking money out of it).
I see stocks as fundamentally two things. A statistical thing (something that tracks the underlying fundamentals of a business, and a probability (a belief in that company). Yes, this alludes to classical frequentist statistics vs Bayesian statistics interpretations.
