Down, Down, Deeper and Down

That Was The Week #319

Content

Essays of the Week

• Down Markets and Liquidity
• Secondary Markets to grow
• Private Equity as Acquiror
• Unicorn Valuations
• Bid/Ask Spread in Venture
• A16z closes HQ
• AI-Powered Organizations
• Brad Feld on Matt Levine

News Week

• FirstMark raises $1 billion in new funds
• Amazon Buys One Medical
• Tesla Sells Bitcoin
• Stripe Lowers Valuation

Startup of the Week

• Crunchbase

Tweet of the Week

• Long Hot Indian Summers

Editorial

In a week that saw public markets largely up, my reading was dominated by those looking at private company stocks and pontificating on the downside. It is a commonly repeated mantra that private markets lag public market corrections.

Jason Lemkin writes about liquidity. This is a much under-appreciated concept in venture. Most funds report TVPI (total value to paid-in capital), which measures the value of…