…s, started because breakthrough technologies needed a big influx of risk capital to even get going. But that morphed into bloated investments like $650 million for dog walking services (Wag) and $47 billion for real estate firms (WeWork).
They are mind-boggling investments aren’t they. I have never been to even understand how they could even spend that much money in a prudent way in the timeframes that they were in existence. How does the last investor in figure hat they are going to make 6X or 10X? Well, maybe those days are over, as you say.