&gt; Can anyone really say if there is any proof to this rhetoric. Are these companies really in such bad shape?<p>One thing is for sure, you can&#x27;t look at companies&#x2F;startups or VC in a vacuum.<p>You&#x27;d be wise to look at financial markets as a whole and all the interdependent factors that __might__ be leading to a situation similar to 2008&#x2F;9 or worse; another housing bubble, weakness in energy markets, banks exposure to housing and energy, weakness in emerging markets (China, Brazil), tightening monetary policy, sovereign debt crises, geopolitical risk, etc.<p>If investor and consumer confidence really start to slide, yes, valuations will take a hit.<p>That&#x27;s not to say that some unicorns and other companies can&#x27;t still be wildly successful.