The Unicorn Hedge
Dave McClure

I think you and your startups are looking for a sucker to buy you out. Yes there are some disruptors but there have been very few of them in the last few years. The startup party is over. Airbnb and Uber are headed towards 8-9–10 years old. Can you point to any big winners (worth lets say over $2 billion) that started lately?

You need to stop funding 500 startups. Maybe fund 5 if there are 5 to even fund.

Fintech did not disrupt the banks. They are frauds.

GM didnt need to buy Cruise — The Economist just wrote this week that we wont see self driving vehicles for 20 years — GM just needs to invest in its future. Paying you a premium to do so is stupid and a waste of corporate funds.

Buying your startups (who wont survive otherwise) is not what they need to do. I’d wait for your startups to collapse and then pickup some talented people for little money.

Yes PEs are high now but your argument is wrong. PE’s need to come down a bit. Corporations need to invest in their future. And VCs need to mostly disappear and they will.

The Bubble is in Venture Capitalists.

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