https://techcrunch.com/2020/01/12/r-i-p-goofy-times/

A strange new sensation has settled across the tech industry, one so foreign, so alien, it’s almost hard to recognize. A sense that some great expectations are being radically revised downwards; that someone has turned down a previously unquenchable money spigot; that unit economics can matter even when you’re in growth mode. Could it be … thrift?

Well, OK, let’s not go that crazy. But we are witnessing a remarkable confluence of (relatively) parsimonious events. Last year’s high-profile tech IPOs are far from high-fliers: Uber, Lyft, Slack, Pinterest, and Peloton are all down from their IPO prices as I write this, some of them significantly so, even while the overall market has climbed to all-time highs. Those who expected immediate massive wealth six months later, even for relative recent employees, have been surprised.