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Jessica Lessin, a reporter at The Information, summed up the general feeling among tech startup execs this week based on her conversations: “It feels like we went public without even knowing it.”

Silicon Valley has been jolted out of its long, blissful stupor in recent days thanks to countless headlines about its biggest nightmare: falling valuations

Why do falling valuations matter so much? The value of a company provides bragging rights in Silicon Valley. The biggest brags of all go to “unicorns,” or companies that are worth more than $1 billion, like Snapchat. Until now, those big tech companies – including Uber, Airbnb and Square — have seen their value only rise Read more…

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