Then now in May, June of this year, we had this huge reset of valuations where growth tech stocks dropped by 50 to 90% value and all of a sudden, which we're still in and we don't know how long this can last, it's all based on interest rates so it's likely that growth stocks will be at these valuations until interest rates come back down again, which could be two to three years. These companies now they can go raise money, but it's going to be at a big down round and down rounds are very painful. So now these companies have to make sure that they don't need to raise money in the next three years. They've got to conserve cash once again.
Then now in May, June of this year, we had this huge reset of valuations where growth tech stocks dropped by 50 to 90% value and all of a sudden, which we're still in and we don't know how long this can last, it's all based on interest rates so it's likely that growth stocks will be at these valuations until interest rates come back down again, which could be two to three years.