Tons of tech stocks and valuations, especially the unprofitable ones, are down 50-66%. It definitely burst. Supply shortages, inflation, and the war provided a sanity check.
On the other hand, 2021 was the biggest venture year ever. Everyone made a ton of money in the stock market, and needed to do something with it. The returns on ventures mean that its now a real investment channel that is here to stay.
Absolutely, where is this narrative about the bubble not bursting, and cheap money this, and market irrationality that coming from? It totally did burst. Growth stock got killed early this year across the board. The market has punished Covid hype investments (e.g. Peloton, Zoom) very hard as well.
On the other hand, 2021 was the biggest venture year ever. Everyone made a ton of money in the stock market, and needed to do something with it. The returns on ventures mean that its now a real investment channel that is here to stay.