The internet is awash with gloom and doom predictions about the death of many unicorns, a downmarket for investing in startups, falling public company multiples and a massive disconnect between private and public valuations. Bill Gurley has been warning about investors “discounting risk” for almost two years. Mark Suster of Upfront recently conducted an interesting survey of investors exposing their expectations for a slowdown in the funding market and he wrote an incredible post on why valuations are falling and VCs don’t like it. Jeremy Phillips of Spark penned an Op-ed in the NY Times about competitive advantage, highlighting that there are very few companies that have true network effects and that most companies win due to scale. 8 months ago we penned a blog post about how the “Pursuit of Unicorns Was Ripping the Soul Out of Entrepreneurship leading to an assault on the obsessive pursuit of Unicornism.”