ISSUE – Apr. 26 | Once Unicorns, Now Zombies

On Monday the Wall Street Journal outlined the “haves and have-nots” moment the venture capital market is currently facing, covering the recent series of startup layoffs and shutdowns. The article includes the inevitable investor quote comparing today’s class of struggling startups to zombies: “They’re like the walking dead!”

This fear is not new. Recall two years ago, when Bill Gurley made headlines for predicting “dead unicorns” by the end of 2015. That followed Marc Andreessen’s warning that many startups would “vaporize.”
WSJ notes that 294 startups raised more than $50 million in the easy money years. A full 216 of those that are still private haven’t raised more money since. (To be clear, some may have raised without officially announcing.) [ Fortune ]