We’re practically on the stopping level forward of an extended weekend right here in the US, however that doesn’t imply that the tech market has given up on making information. And the information isn’t good.
Within the wake of Snap’s layoffs and startup staff-cutting galore, you’re possible not stunned that there’s some dangerous information out and about within the tech market. However as we speak’s ailing tidings are a bit worse than simply one other spherical of lackluster headlines — after managing to stabilize, the worth of software program shares took extra blows as we speak.
For startups, falling inventory costs amongst their public comparables can imply decrease exit costs and less-generous valuations after they fundraise. And after enduring quarter after quarter of their public-market brethren shedding worth, among the greatest names in tech are at it once more.