With just two sentences, Jon Stein can make you question everything you thought you knew about the startup world in 2016.
« It was a good market to be raising, » Stein told Mashable on Tuesday morning, shortly after his financial services company Betterment announced raising a blockbuster $100 million round of venture capital funding. « I’ve never before seen so much interest. »
Hear that noise? It’s the sound of hundreds of startup founders weeping as they ride their hoverboards into the sunset.
For a brief period in 2014-2015, it seemed like investors, flush with confidence from a strong stock market and the success of businesses like Facebook and Amazon, were willing to hand over millions to any startup that compared itself to Uber in a pitch deck. Giant rounds, like Betterment’s, happened every week, if not more frequently. Read more…
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