Janeway: Non-traditional late-stage tech investments will end in painful correction
Bill Janeway · a16z Podcast | Good Bubbles, Bad Bubbles -- and Where Unicorns Come from · Jan 2, 2019 · at 6:01
Bill Janeway, venture capitalist and economist, criticizes hedge funds and mutual funds investing in late-stage private tech startups at inflated valuations without liquidity or governance rights.
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“Now, when you see investors, hedge funds, mutual funds, paying premium prices, To buy illiquidity, to buy securities with no liquidity and with no governance rights. In the private market. The only thing you know is when it ends, it will end painfully.”
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