The entire model of startups taking on lots of VC funding, burning it over a few years to acquire customers and then having a big exit, all without bothering with a business plan or making a single dollar in profit, is basically over.
The reason VC funding is drying up, big unicorns aren't going public and acquisitions are halted is that investors are actually starting to drill into the numbers now, and finding nothing but hot air.
I'm okay with this. Very little good has come from this. How many of the social platforms would be where they are now if they had to fund themselves differently?
Real question: When will Stripe go public? That has to be the biggest unicorn in years. And barrier to entry is quite high, so they have built a nice moat. I wonder if the VCs push them to go public.
The reason VC funding is drying up, big unicorns aren't going public and acquisitions are halted is that investors are actually starting to drill into the numbers now, and finding nothing but hot air.