Following on from my previous post about the age of loose money comes this article from Capitalist Exploits with some of the same concerns, namely that we’re partying like it’s 1999 again.

There are only two ways VC can get liquid: a buyout or an IPO.

And given that so many of the famous “unicorns” are valued at multiples that make my eyes shoot blood, there are now an ever decreasing number of companies that make suitable suitors.

So we’re down to flogging this stinking pile to the folks who always get roasted, especially at the tail end of a boom: retail investors… which is why we’re seeing tech unicorns IPO-ing.

This is a good strategy for VC, so long as those retail investors buy what is being sold.

The trouble now is that there are early signs that the appetite for these “growth” stocks is collapsing like a teenager after a bottle of Absolut on spring break.