Investors Keep Giving Startups More Funding Than They Need. Here’s Why the All-You-Can-Eat Buffet May Cause Indigestion

“This is the best time to raise money ever,” Slack founder Stewart Butterfield told The New York Times in April 2015. In the months that followed, I and many other observers cited Butterfield’s thoroughly rational exuberance as evidence of a historic tech bubble, one data point among many that private-company valuations had become untethered from reality to a degree that made a painful correction not just inevitable but imminent. Read more>>

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