The venture capitalist warned that money is harder to come by for start-ups and valuations have dropped 30% to 50% in some cases. She said the “wake-up” has already hit many smaller startups, though larger private companies may be able to wait out the painful market turn.
The technology industry is facing a fundamental overhaul with rising geopolitical tensions and dwindling investor appetite for money-losing startups, according to a panel of leading venture capital partners.
“The reset has arrived,” said Jenny Lee, a managing partner at GGV Capital.
