Loverro: Current tech downturn hangover will be worse than 2008 GFC
Tom Loverro · Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings · Feb 13, 2023 · at 14:01
Tom Loverro, General Partner at IVP, compares the 2023 tech market reset to the 2008 Great Financial Crisis on 20VC.
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“In the lead up to the great financial crisis mortgages were going bananas. You had LBOs going bananas. Investors and venture weren't to the same degree. You didn't see companies in the public markets in tech or the privates trading at You know, hundreds of times revenue. I think the dot-com era was too fresh in people's mind for that to happen, but this time it did, so the hangover is going to be worse”
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