t seems like all the usual suspects, and a phalanx more, have weighed in on the bubble controversy. We have been cautioning about unreasonable valuations in subtle but rising tones for about nine months now. And while we still see great companies at reasonable valuations, the number of valuations in nosebleed territory continue to rise.
The valuation froth seems concentrated at the bookends of startup evolution. We’re seeing declining numbers of larger A rounds, falling IPO activity, and huge late stage rounds.