Just scanning across headlines of the last few days:<p>- San Francisco commercial real estate at record highs, passing NYC in price per square foot (which last happened just before things imploded last time around)<p>- Multiple SF area tech companies running rounds of layoffs<p>- VC funding took a nose dive last quarter<p>- Quite a few unicorns or near unicorns having their valuation tank post-IPO, having a difficult fundraising round or seeing their valuations slashed on private markets<p>One can debate if the Valley is in a full blown bubble, but seems increasingly obvious at a minimum there&#x27;s a significant cooling off on the horizon.