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- Coronavirus

- Bernie Sanders rising in polls

- Unicorn/IPO disappointment; WeWork, Uber, Slack

- whales like MS, Google, Apple, Tesla outperforming startups by a ridiculous margin

What little innovation happening is all coming from the big established corporations. We hit peak VC euphoria. You had kids with PhDs in EE/CS vying to become personal assistants for VCs. More people wanted to become VCs than start businesses and build things. Now it's time to clean house.



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